International Herald Tribune , 1994, France, English

INTERNATIONAL

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PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST

**

Paris, Tuesday, September 13, 1994

No. 34.692

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How Did Pilot Breach the White House’s Security?

nr s _ _ . , . . Gar> Cameron • Reuters

Wreckage of the single-engine plane lying against the White House on Monday. President Bill Clinton leaving Blair House, right, where he and his family had been staying when the Cessna crashed.

By Paul F. Horvitz

International Herald Tribune

WASHINGTON — How could it possi-
bly happen?

After all the well -documented threats to
American presidents, several carried out
with dangerous effect, how could a Mary-
land truck driver steal a single-engine
plane, pilot it through restricted airspace
over the capital and descend at night to a
crash landing at the very foot of the heavily
guarded White House?

That was a question many Americans

were asking Monday after a bizarre inci-
dent in which a two-seat Cessna 150 pene-
trated the city's no-flight zone at 1:45
A.M. and came to rest in a twisted heap on
the grass a matter of feet from the office
and living quarters of President Bill Clin-
ton.

The president and his family were
asleep, not at the White House but across
the street at the executive guest quarters,
Blair House, because of renovations to the
White House heating system.

No one on the ground was injured, but

the pilot, Frank E. Corder, died. He was
described by investigators as a 38-year-old
man with an unspecified criminal record
and “a prior history of mental illness,”
though ms family said he had been treated
only for alcoholism. (Page 4)

The Associated Press said relatives de-
scribed Mr. Corder as having been dis-
traught over the death of his father and the
recent breakup of his marriage. And Cable
News Network said a relative had said Mr.
Corder was fascinated by Mathias Rust,
the young German who flew to Moscow

and landed a plane in Red Square in 1987.

The Secret Service, which handles presi-
dential security, said their initial investiga-
tion did not point to a deliberate attack on
the president.

Mr. Clinton said he took the incident
seriously and promised that the Executive
Mansion “will be kept safe, and it will be
kept open and people's business will go
on.” He planned to sleep at the White
House on Monday night, as scheduled.

The White House sits on 1 8 fenced acres
in the heart of Washington. It serves as the

president’s home and houses offices of the
president, vice president, chief of staff and
senior aides. It also houses a national secu-
rity “situation room," or presidential nerve
center, with links to the Slate Department,
the Pentagon and the Central Intelligence
Agency.

Government investigative agencies, in-
cluding the Secret Service, moved into high
gear after the crash. By midday, enough
facts had emerged to quash, at least initial-

See BREACH, Page 4

Deal on Family Planning Emerges in Cairo

i“Vn*i

k

(HSJrtwt

k By Chris Hedges

iVw York Ttmes Semctr

CAIRO — After a week of acrimonious
debate, the main drafting committee of the
UN Conference on Population and Devel-
opment agreed Monday on a program that
defines the new concept of reproductive
rights and lays out a 20-year strategy to
deal with the world’s looming population
explosion.

The new Program of Action appears to
be acceptable to the four main blocs at the
conference — Muslim states, developing
countries, the wealthy Western nations
and die Vatican along with its allies.

“On a very great proportion of the issues
of population development, including
family planning, the nations of the world
think largely in the same way,” said Nico-
l»fls Biegman, the rice chairman of the
main committee. “In a way 1 am thankful
to the Vatican for having stirred up the
controversy which otherwise would not
have been there at all.”

With one more day to go in the nine-day
conference, the fighting appeared to have
ended. The goal of the program is to curtail
worldwide population growth and make
family planning available worldwide.

It also enshrines the right of women to

make their own decisions regarding their
families and their relationships.

The program says that people have the
right to decide the number of children they
will have and when. The document also
says that all have the right to “a state of
complete physical, mental and social well-
being” in all matters relating to reproduc-
tion.

The document is not binding. Many
countries, along with the Vatican, which
vehemently opposes abortion, have chosen
to interpret the phrases to suit their own

See CAIRO, Page 4

Kiosk

Hamburg Aide Resigns in Beating

HAMBURG (Reuters.) — The interior
minister of Hamburg state said Monday
he was resigning over what be called
anti-foreigner actions by the local police.

Werner Hackmann’s resignation fol-
lowed press reports last week that a 44-
year-old Senegalese was beaten up last
January at a Hamburg police station. It

was not clear what happened to the man
or why he had been held.

Two police officers were fined several
thousand Deutsche marks each for beat-
ing up the Senegalese man but were not
fired. Mr. Hackmans said dismissing
them would have been impossible for
legal reasons.

Book Review
Chess

Page 7.
Page 7.

Crossword

Weather

Page 17.
Page 18.

A Day in the Life: Mandela Hones the Art of Charm and Statesmanship

ii* I**’

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By Bill Keller

New York Times Service

CAPE TOWN — Nelson Mandela,
South Africa’s indispensable man, settled
into the seat of his presidential jet. He
propped his chronically swollen feet on
two pillows, accepted a bowl of cereal and
a plate of fruit, and commenced a daylong
demonstration of his art of the presidency.
It was 6 AJtf. on his 122d day as Iibera-

tor-turned-chief -executive, and he had

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agreed to let two reporters watch him do
his job.

Never a man oblivious to his audience,
Mr. Mandela promptly embarked on a
campaign of seductive engagement: delib-
erate charm, disarming confidences, a
command of details mustard in defense of
crisp convictions.

A dmir ers who regard the man as a mod-
em saint might have had moments of
doubt. In the course of the day he would
display an occasional meanness* toward his
predeoessor and present deputy, Frederik

W. de Klerk, and a surprising solicitous-
ness toward corporate big shots who have
quietly donated money to his cause.

But the day would leave little question
of the unique, patriarchal authority that
sometimes seems to be the main force
binding this country’s improbable govern-
ing fusion of races and interests.

As he poked at the fruit, Mr. Mandela
recalled the paternal scolding he had just
delivered to one of his closest allies, the
Congress of South African Trade Unions.

Dressed in a union cap and T-shirt, the

president had told the unionists the last
thing they wanted to hear: Ease up on the
strikes, you are scaring foreign investors;
prepare to tighten your belts and accept
low wages, because that is how some Asian
economies became tigers.

He warned union workers against put-
, ting their own modest advantages above
the needs of 5 million blacks with no jobs
at all for whom the president is convinced
the only hope is to make South Africa a
mecca for foreign capital.

But Mr. Mandela knows that many in

A Russian Spa Clings , Obsessively, to Proletarian Past

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Lebanon ..iUSSl^O U.S.MiL(Eur.)$1.10

By Alessandra Stanley

•Vcw York Tunes Service

ZHELEZNODOROZHNY, Russia —
On a tiny table not far from the whirlpool
baths lies a glass pitcher of sepia-colored
liquid labeled Concoction No.3. Above it,
a chart indicates that Concoction No.3
helps fight “neurotic obsession.”

Every afternoon, patients have a glass of
their prescribed herbal potion. Then, de-
pending on their ailment, they undergo
massage, electrotherapy, hydrotherapy,
electronic joint massage, eucalyptus inha-
lation, sauna, hot paraffin wraps, and acu-
puncture, and listen to relaxation tapes.

Six o’clock is happy hour, when all pa-

tients, whether suffering from hyperten-
sion, rheumatism, or varicose vans, gather
in the solarium to sip oxygen cocktails — a
foamy mixture of herbal tea, egg whites,
syrup, and pumped-in oxygen.

It is not a new age spa in California, but
the MetaUurg Sanatorium-Prophylaxis
Center, a sprawling rest and preventive
medicine center just outside Moscow for
the 7.000 workers of the Hammer and
Sickle Factory, a large state-owned steel
factory.

Nothing has changed much at the sani-
tarium since it was opened in 1946. The
battered, aged equipment, which includes
ultraviolet lamps, inhalation cones, a low-

pressure chamber, and a quartz-ray ma-
chine, has an old-fashioned futuristic look,
like Flash Gordon. Among the flower
beds, a copper statue of Lemn points ac-
cusingly at the future.

The ideological system that spawned
hundreds of similar workers' health spas
throughout the country has collapsed. And
so has the economy that could afford free
24-day spa vacations for factory workers.

But even those state-owned enterprises
that are slouching toward bankruptcy are
reluctant to dose down places that have
become an inalienable right in Russia.
Like other such centers, the MetaUurg, 1 1
kilometers beyond Moscow’s city limits, is

reluctantly adapting itself to a market
economy by taking in some paying cus-
tomers. At heart, it is a quintessential Sovi-
et institution dinging to the past.

Gregori Derilo, 51, the chief doctor,
defiantly keeps a framed photograph of
Lenin across from his desk and says he
does not wdcome opening his sanctuary* to
some tourists and business travders.

"Times are tough,” Dr. Derilo said with
a shrug. “We are only on the brink of
survival.” Wearily he added: “I’m afraid
I'm going to have to make it more of a
commercial structure — open it even to

See SPA, Page 2

the unions — and some senior figures in
his own party — regard such thinking as
sacrilege.

“You still have this question of popu-
lism — ‘Let the workers strike!” Mr.
Mandda said as he flew from Pretoria to
Cape Town. “They say, ‘We want only
investors who will invest at all costs/ I'm
trying to warn against that type of think-
ing. That is irresponsible. We must move
from the position of a resistance move-

See MANDELA, Page 2

New Round
Of Takeovers
Shakes Up
3 U.S. Firms

Borden Is Acquired 9
And American Express
Expands Travel Sector

Complied by Our Staff From Dispatches

NEW YORK — Three food, pharma-
ceutical and financial companies an-
nounced major takeover operations in ihe
United States on Monday as a wave of
acquisitions swept the business world.

Kohlberg Kravis. Roberts & Co. said it
would take over Borden Inc., the U.S.
dairy, pasta and glue maker, in its biggest
purchase since buying RJR Nabisco Hold-
ings Corp. five years ago.

Bayer AG of Germany announced it
was taking over the U.S. over-ihe-counter
drugs business of SmithKline Beecham
PLC. the British- U.S. pharmaceuticals
company. It said the SI billion deal would
enable it to reacquire the Bayer trademark
in the United States for the first time since
World War I. when its American holdings
were confiscated as enemy property.

In another major deaf, American Ex-
ress Co. said it had agreed to buy the 400
J.S. travel offices and the corporate travel
unit of Thomas Cook Ltd. of Britain for
$375 million.

The takeovers were part of a trend —
including the S10 billion marriage of Lock-
heed and Martin Marietta last month —
that financial analysts say could continue
for some time as companies seek to adapt
to changing markets and global scope.

Kohlberg Kravis said it would trade half
its controlling interest in RJR Nabisco, or
$2 billion in stock, for all of the financially
ailing Borden.

Borden sold SS.5 billion worth of prod-
ucts last year, including Gassico Pasta
Sauce, Meadow Gold dairy* products,
Elmer's glue and Wall-Tex and Crown
decorative products.

It has been struggling with weak earn-
ings and heavy debL In 1992 and 1993. it
posted losses of about $1 billion, mostly
because of restructuring.

“It is clear that additional investment in
our brands and capital axe needed in order
to capture the company's potential” said
Frank J. Tasco. chairman of Borden.

A definitive merger agreement is expect-
ed by SepL 23, depending on approval by
lenders and regulators.

Under the buyout, Borden, which is
based in Columbus, Ohio, will become a
private company headed by its senior man-
agers.

“With greater access to capital and an
incentive compensation that encourages
managers to »hmk like owners. Borden will
be well positioned to develop the full value
of its many strong underlying assets and
excellent brands," Kohlberg Kravis said.

In a related operation, RJR Nabisco
said it would take a 20 percent stake in
Borden after the merger. It said it would
issue $500 million in common shares in
return for newly issued Borden shares
priced at $14.25 each.

The Bayer deal concerns the over-the-

See MERGERS, Page 4

Train Bomb
In Dublin
Claimed by
Protestants

The Associated Press

DUBLIN — After warnings from out-
lawed Protestant paramilitaries, a bomb
exploded Monday on a train as it pulled
into a central Dublin station, slightly injur-
ingtwo middle-aged passengers.

The police said that 2 kilograms (about
4.5 pounds) of explosives had been packed
into a shoebox, but that only the detonator
had exp}oded.

pie illegal Ulster Volunteer Force
claimed responsibility for the attack, the
first by Protestants in Dublin since the
Irish Republican Army declared a cease-
fire Aug. 31. It said in a coded message to a
television station that it had planted
bombs at seven other city locations.

The police rushed to the sites, including
the town hall the central post office and
the city airport, but said they found noth-
ing.

In Belfast, Britain’s top official in
Northern Ireland described the train at-
tack as “revolting” and urged the IRA not
to retaliate.

“One evil deed does not warrant another
evil deed,” said the Northern Ireland sec-
retary, Sir Patrick Mayhew.

The incident underlined the warv re-
sponse of the mainstream Protestant’ par-
ties and the illegal unionist paramilitaries
to the truce in the IRA’s 25-year campaign
to aid British rule in Northern Ireland.

Sinn Fan, political partner of the Cath-
olic-based IRA, said in a statement in
Dublin that the attack was “aimed at in-
timidating opinion in the south away from
thepeace process.”

The device went off as the express pas-
senger train from Belfast pulled into '

See BOMB, Page 4

Page 2

INTERNATIONAL HERALD TRIBUNE, TUESDAY, SEPTEMBER 13, 1994

Loud and Shaking, a Disco Tests China’s Open-Door Policy

By Steven Mufson

Washington Past Service

SHANGHAI — It is 11 P.M. at
J-Ts Disco in Shanghai Fog pours
from the fog machine, the dance
floor is packed and Billy, a disk jock-
ey from the Philippines, has just se-
gued from a tune called “Sex Drive**
to one called "Sweet Freedom,"

Three rail-thin women have
jumped on the counter behind his
record boxes and shake their hips to
the beat that rocks the floors, tables
and walls. A woman in hot pants
with a bandanna and a jeweled stud
in her right nostril is projecting vid-
eos on television screens scattered
around the club showing a sexy
blonde from England writhing in
scanty costumes.

Deng Xiaoping, that “when you open
the window, flies and mosquitoes
come in.” And if any place is evi-
dence of that observation, it is this
popular nightclub, the thumping
heart of China’s most energetic city.

Mr. Deng made his comment in
reference to China's open-door poli-
cy, designed to rejuvenate its econo-
my but which has also allowed some
other influences to seep in.

Like discos. It was not until 1984
that China’s rigid Communist Party
even allowed dance h alls, which were
once deemed evidence of “spiritual
pollution” from barbarian foreign-
ers. But when the doors and windows
to China cracked open, dance halls
featuring everything from waltzes to
rock and roll flew in.

Upstairs, past the bar, strobe lights

beat against a human-sized mosquito
over another crowded dance floor.

Some people contend the giant in-
sect is a reference to an observation
once made by China’s senior leader.

to “Mr. Vain," then “Be Be — Let
me be what I want to be* — and then
“No Limit," a favorite.

The irony of the music is heavy in a
country where, for the most part.

people have not been allowed to be
what they want to be and where the
Communist Party has set all sorts of
limits. Conformity is still the safest
policy and people are routinely
banded work ana residence assign-
ments. Travel, speech and associa-
tion are controlled.

Perhaps that is why so many peo-
ple throng to ITs, in what was once
the theater of the army-owned Yen an
Hold. Now on an average night
1,500 people show up to drink and
dance, though the cover charge has
been jacked up to about 56 on week-
nights and $9 on Saturdays — steep
in a country where urban cash in-
comes average about $100 a month.

“There is a sense of craziness here.
That’s why so many young people
want to come here,” said Zhang wti,
17, whose entrepreneur parents give
him enough money to come to IPs at
least once a month. “After 1 go home,
I think about how coming here costs
a lot of money. But then the next day,
1 want to come again "

ITs was founded by Andy Ma, an
American from Taiwan who owns
two restaurants in Seattle and says he
now lives in Seattle, Los Angeles and
New York when he is not in China.

After he visited Shanghai for the
izrst time in 1988 and went to some
nightclubs, Ma decided to open his
awn in a hotel. Later he sold that,
joined with the People's Liberation
Army as partner and invested about
$160,000 to fix up the Yenan Hotel
theater. The dub opened in Decem-
ber 1992. The name JTs is an abbre-
viation of the Romanized version of
Mr. Ma’s given name: Jianjing.

“In China, people live in very
small rooms and they feel lots of
pressure,” Mr. Ma said. “We open up
this place, these big discos with really
high ceilings, and they feel no pres-
sure when they come.”

Last month he spent $200,000 to
open a new dance hall in Guangzhou
in southern China, and he is planning
to open a third, with a laser light
show, in December in Beijing.

English-speaking disk jockeys are
i important part of the formula.

an important part of the formula,
along with lots of music from the
United States. England and Hong
Kong.

“Right now people really respect
foreign DJs,” Mr. Ma said “They
think the foreign DJs are more
classy.”

It is tempting to read political sig-
nificance into the scene at JTs. Some
observers say even the most seeming-
ly apolitical counterculture will
translate someday into more politi-
cally meaningful aspirations for free-
dom and individual expression. And
certainly the words of much of the
music played here reinforce that no-
tion.

But most of the people at JTs can-
not understand the words. Since they
are in English and most people at JTs
speak Mandarin Chinese or a local
dialect, the meaning is largely lost

“I don’t understand the words, but
I like the music, the beat, the
rhythm,” said Chen Lei, 23, a cook.

Beijing Sets
An $11,600

. , ...

Fee on New
Residents

By Patrick E. Tyler

iVew York Times Service

BEUING — Reacting to a
Hood of migrant workers, Beij-

ing’s municipal authorities said
Monday that they would begin

onday that they would bean
iposing fees of up to $11,600

imposing fees of up to $11
for the privilege of living in the
capitaL

“People from outside of Beij-
ing must pay for the right to live

permanently in this capital of
China from Nov. 1,” Xinhua
press agency said.

The fee structure would
charge companies doing busi-
ness in Beijing the equivalent of
$1 1,600 for each migrant work-
er hired to live in the city.

“Or they may ask their em-
oyecs to pay for themselves.”

ploy ccs to pay for themselves,”
Xinhua said, adding f h at the
payment for individuals would
be $5,800, half the corporate
rate but more than 10 times the
average annual income.

The chief of the city’s munici-
pal finance bureau. Sun Jiaqi,
was quoted as saying the regula-
tions were aimed at controlling
the fast-rising migrant popula-
tion, which has been blamed for

MANDELA:

A Day in the life

Costumed from Page 1

Borjos/Rcuteo

TAKING IT ON THE CHIN — An instructor in Beijing tapping a Chinese soldier on the gfain to correct his posture.

a soaring crime rate. OTb A r*

The announcement caught !5Jr A: Clinging Reluctantly to the Proletarian Past at a Moscow Sanatorium

the city's II million residents ° n J

and estimated L5 million mi- Continued from Page 1 factory, trade unions, and the their own cook, orchestra, and Some treatments, which in-
grants py surprise and raised > „ Thp*^ of - government picking up the rest drinking water. dude leeches, cupping, and ho-

qu«mons about enforcement ^^Sjth WeS^ere Outsiders ply $200. But Dr. ___ ^ do meopathic remedies, are old-

and who might be exempted ^ ^ 19Q2 b ‘ a Rus _ Derflo has neither the resources SiSiTpiped in over $ ul & led - Russian

their own cook, orchestra, and
drinking water.

Russian customers make do

hens were approved by a ses-
sion of the Beijing People’s
Congress, which ended Mon-
day. The proceeds from the new
migrant tax, should it actually
materialize, “will be used to up-
grade the city’s public facili-
ties.”

the workers’ paradise. The aver- ^ 15,11 carpets are worn, beds band Most view the - . _

age stay is 24 days. S* narrowjmoleum is scuffed. orchards, veg-

tiles are broken, pipes are rusty, gardens, a small lake, average life tratancy for

and the kitchen serves Russian aad afJSst, not just as a health recently dropped to 60.
soups, not spa cuisine. clinic Sit also as an all-ex- . But customers say

When a group of German penses-paid vacation. tSZJZ. like

Some treatments, which in-
clude leeches, cupping, and ho-
meopathic remedies, are old-
fangled And though Russian
doctors insist that sanatorium
stays are good for virtually all
ailments, prevent illness and
save lives, it is hard to make a

It seemed conceivable that
the announcement was intend-
ed as a warning to slow the
inflow of migrants.

age Stay iS 24 days. narrow, imuicum is

jThere were once 350 sanitari- til« are broken, pipes,
ums and prophylaxis centers in u™ kitchen serves
the Moscow region, and now sou P s ’ not s P a cuisine,
there are only 100. The Metal- When a group of
lurg center, which has 200 beds, businessmen recently stayed at
operates as both. the center tor a combined work-

Factory workers pay only mg vacation and fishing trip,
$10 for a 24-day stay, with the Dr. Derilo said, they brought

But Russian customers say
they couldn’t do without them.
The centers, like factory sports

The Metallurg center has not arenas, day-care centers, sea-
yet- become infected with the side vacation resorts, subsi-

abstemious spirit that rules dized housing and a profession-
American health spas. Above al soccer team, are the social

the gymnasium, there is a bfl- safety net that failing industries
liard room, a disco and a bar st31 provide — and that the

with a professional bartender government cannot afford to
on duly every night after 6 P.M. duplicate.

VACHERON CONSTANTIN

Geneva, since 1755

Visiting ~
New York City?
Gramercy
Park Hotel

duplicate.

The factory director, Nikolai
Izvekov, said the center cost the
factory nearly $] million last
year.

“Anything could happen,”
Mr. Izvekov said, “but 1 just
can’t imagine ever closing it
down.”

Distinguished 509 room hotel
overlooking Gramercy Park.

Excellent Restaurant,
Cocktail Lounge, Piano Bar
and Room Service.

Multi-lingual staff- Minutes Co
Business Center, Sightseeing,
Banque [/Meeting facilities.

Singles $125-135
Doubles $130-140
Suites $160 & up
Group Rates Available

Call Gen. Mgr. Tom O'Brien
Fax 212-505-0535
Telex 688-755
(212) 475-4320

GRAMERCY PARK HOTEL

21st Sc. and Lexington Are. NYC
Member of U tdl International

Vschwon Consume!, 1 m » dm kkuAnx CH t204Gen*v»

Bosnia Bos Flange Kills 11

The Associated Press

BELGRADE — A bus
plunged into an abyss on a road
in Serb-controlled territory in
southern Bosnia early Monday,
killing 11 people.

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for Herald Tribune readers

South Africa has no law re-
quiring that political gifts be
disclosed, and no tradition that
frowns on officials giving ac-
cess, even sympathy, to contrib-
utors.

With the election over,
wealthy executives seeking to
impress Mr. Mandela with their
commitment to the new order
are now being invited to donate
to the President's Fund,

p

WORLD BRIEFS

;i U<!

ill* 1 . |

jJ> i-i“ k

iir

said an easing of restrictions on two inspectors in North Korea :
reflected “a recent positive development in its bilateral talks with
the United States.” . ..

Observers said that it was the most significant sign m months of ■
a softening in strained relations between the agency and North

Korea, which is widely suspected erf hiding a program to develop
nudear weapons. ....

Iran Urges Paris to Disavow Algiers

mnic Prvci/iMt Hoslmni Rafsaniam of Iran

PARIS (Reuters) — President Hashemi Raf sanj ani of Iran, in. ,
an interview published Monday, urged France to withdraw its

Le ^Figaro that France's
backing could be compared to Washington s support of the late
shah in Iran. He also predicted that the Algerian government
would be overthrown by the Islamic Salvation Front. _ -•

. * ,n nrv> 1- kmu Inn HIlnH m nnliticai vintein*.

DUio oe ovcnuruwu uj aoi ouiw ——a: — , . — , , - ,

More than 10,000 people have been killed m political violence
in Algeria since 1992 when the authorities scrapped a general
election that the Islamists were poised to win.

New Jordan-Israel Border Crossing

ment u> one of builders.” South
Africa is not a one-man show.
In his cabinet and Parliament,
and in the provincial govern-
ments, Mr. Mandela has a
strong cast, including two pos-
sible successors — Thabo
Mbdri, a former exile and liber-
ation diplomat who now serves
as the first of two deputy presi-
dents, and Cyril Ramaphosa, a
tough-minded labor leader dur-
ing the apartheid years who re-
fused his pick of cabinet posts
to remain as head of Mr. Man-
dela’s party, the African Na-
tional Congress.

But probably none of them
has the weight to say what Mr.
Mandela had said tie night be-
fore to the unionists, and to
expect the respectful hearing he

gOL

At 7:50 A-M-, his Falcon 900
landed at an air force base out-
side Cape Town, and the offi-
cial day began.

8:30 A.M.: “This is the office
where I saw P. W. Botha in July
1989,” Mr. Mandela said, fold-
ing his long, erect frame onto a
cream-colored, upholstered
sofa. That meeting with the
president who preceded Mr. de
Klerk was a watershed in the
long negotiations toward de-
mocracy.

Mr. Botha was known for
good reason as “the Great
Crocodile,” but Mr. Mandela
recalls him as “a charming
man” who poured tea for his
guest and addressed him with
respect.

Mr. Mandela places a premi-
um on personal contact in af-
fairs of state. Manners count,
and loyalty, even the easy loyal-
ty of a kind word or a generous
check, is remembered.

When he upbraided die labor
leaders the night before, he did
not mention an additional rea-
son that their militancy has
worried him. Some employers
who have been the targets of
strikes have been secret bene-
factors of the African National
Congress.

Before the election cam-
paign, Mr. Mandela went to 20
titans of corporate South Africa
and asked each for at least a
million rand — about $280,000
— to build up his party and
finance the campaign.

All but one, he said, com-
plied. A few, like Raymond
Ackerman, the bead of the Pick
’n Pay grocery chain, gave dou-
ble the minimum request, Mr.
Mandela said. So it rankled him
that Mr. Ackerman’s stores had
just borne the brunt of a rau-
cous strike by store clerics.

“The rtehl to strike is in the
constitution,” be said. “But for
than to target people who have
been assisting us creates diffi-
culties. Without funds we could
not have built the organization,
we could not have won the elec-
tion."

ZEMACH, Israel (AF) — Israeli and Jordanian peace ^ negotia-
tors, resuming talks Monday, agreed to open a ^ border ■
crossing between the two countries. Located at the Sheikh Hus^
sein Bridge. 24 kilometers (15 miles) south of the Sea of Galilee, it
would open by the aid of October. . ■

Discussions on security, borders and water were lmuted to a
presentation of each side's positions, Israel radio reporro.^ An
Israeli delegate said his side raised the possibility of Palest in ia ns
joining what would become trilateral talks on economic matters.

A spokesman for the Israelis said the third crossing would be
subject to the same restrictions as the AHenby Bridge and the
recently opened Arava crossing near the resorts of Eilat and
Aqaba.

Crimean Deputies Regain Airwaves

SIMFEROPOL, Ukraine (Reuters) — Members of the Crime-
an Parliament regained control of the area’s broadcasting stations
on Monday, but little progress was made m reSiMyxog Busk
constitutional conflict with the Ukrainian region s president

Pa rliam entary deputies — who have been locked out ot mar
building — and President Yuri Meshkov remained at loggerheads
in a dispute over control of the largely pro- R u ssia n region. :

A group of deputies flanked by about 30 Cossack warriors
carrying whips walked into radio and television stations on
Monday morning and, after a brief discussion, persuaded guards
posted by Mr. Meshkov to relinquish control

■ft

0

ttlus

Berlusconi Plans Trip to Moscow

MILAN (Reuters) — Prime Minister Silvio Berlusconi an-
nounced Monday that he is to visit Russia next month on his first
trip outside the European Union since his election victory in Italy .
six months ago.

Speaking after talks with Jacques San ter, the new president of
the European Union's executive commission, Mr. Berlusconi said
he would meet President Boris N. Yeltsin and Prime Minister
Viktor S. Chernomyrdin on his visit to Russia. The Italian leader
said this would be followed by talks with the leaders of Germany, ,
Britain, France and Spain, but a trip to the United States has bean w.
postponed until next year. • -■

Omtm

Separatist Issue Marks Quebec Vote

MONTREAL (AP)— In one of the most important elections :in ;
Canadia n history, voters in French-speaking Quebec woe decid-
ing Monday whether to elect a party that wants out of its union
with the rest of Canada.

Opinion polls indicated that the pro-independence Parti Qu^
b£cois would win a majority of the 125 seats in the provincial
legislature and form the next government.

Many voters say they are more interested in ousting the govern-
ing liberal Party than in independence. The Parti Qufcbicois lost
a 1980 referendum on independence by a wide margin.

For the Record

The treason trial of the Nigerian opposition leader Moshood
K.O. Abiola resumed briefly in the federal capital Abiqa, but the
judge ordered an adjournment because the defendant was UL(AFP)

Correction

In an article in editions of Sept 10-1 1 about the international
population conference in Cairo. Dr. Allan Rosenfield was incor-
rectly identified. He is at the conference as a representative of the
American Public Health Association and the American College of
Obstetricians and Gynecologists.

TRAVEL UPDATE

Duty-Free Shopper? The EU lineup

DDTTDCCT C? m \ a j n t « . .

BRUSSELS (Reuters) — Among duty-free shoppers, drinkers
should head for Milan and smokers for Madrid, according to a * .
survey of the European Union. |

The European Consumers Organization found London to be ’ ^ ’

the most expensive for both. Dublin was the cheapest place to buy \ • Pnli*
duty-free perfume and Lisbon was the most expensive. Paris was > w,, ' !
best for cameras, with Frankfurt and Copenhagen the most * ,

expensive. -

Although shopping duty-free still made sense for smokers and * ' ^
drinkers, it was noted that the duty-free price of one make of l
camera in Amsterdam was 25 percent higher than the average cost
in the city.

Disruption of traffic at Copenhagen’s airport continued Monday
ecause of a strike by SAS mechanics, although the airline said * ‘ f i

lACf /yf if C PitmnMn on si LaJmi* 1 '■

because of a strike by SAS mechanics, although the airline said
most of its European and intercontinental schedule was being
meL (AFP)

Tile Enab Lumpur airport installed a new radar system Monday, • v
replacing one destroyed by fire a month ago. The lack of radar has I - • -
led to delay of most incoming flights and was a factor in two near- < ■ • “
collisions. (AP) ] -

India’s aarfines and travel agents wiD have to aMtnes, \ (l

hotels and car rentals through the Galileo reservation system, 1

whose owners include British Airways, Alitalia and KLM. (AP) ! ; •

To call from country to country, or to the U.S., dial the WorldPhone® number of the country you're calling from.

Antigua

[Available from public card
Argentina*

Austria! cn*

Bahamas

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Boufl

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Cayman Islands

CtflMCO

Cetombiatcn*

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Cyprus*

Czacli RapubSaco

phones only.) 02
001-800-333-1111

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980-16-0001

162

080-90000

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02 fireD 355-6770

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19v -00-19
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eastern Germany.)

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001-800444-1234
001 -BOO-87 4-7000
00* -800-01*11

Iceland* 999-002

Iran-!- (Special Phones Only}

Ireland CO 1-80056-1001

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KatyiCQ* 172-1022

Jamaica 600-674-7000

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(Available from most major dues.) 08001 1

Kuwait 800-MCK800-624)

LabenoniCQ 600-624

(Outside of Beirut dial 01 first.) 426-036+

Uecbfienstdnrca* 155-0222

Luxembourg 0800-0112

Mexico* 95-800-674-7000

Monacal CQ* 19T-00-19

Netherlands CO* 06-022-91-22

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(Outside of Managua, dial
Norway! CO*

Panama
Military Bases
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Peru (Outside of Lima, dial
Polandtcg

Portugal CO
Puerto Hcaicci
Qatanco*-

RotnanhHCCH-
Russuhcch-
San Marino! CO*

Saudi Arabia
Slovak RapubOaCCi
South Africa! CQ

02 first.) 166

800-19912
108

2810-108
008-11-800
190 rust) 001-190

OT-01 -04 -800-222
05-017-1234
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Spain ica
Sweden! CO*

Switzarimdica*

SyriaiCQ

Trinidad & Tobago - (Sp

Turkey*

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United Arab Emirata s
United Kngdonucci
To call the U.S. using BT
To can the US. using MERCURY
To can anywhere other
than the U.S.

Uruguay (CoJteer not available.)
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Vatican GHyicC)

V«nanwla+*

900-99-0014

020-795-922

155-0222

0800

(Special Phones Only)
00-8001-1177
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0800-89-0222*

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0900-800-800

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1-800-888-8000

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'MMniBiTP ■ 7 _ .

Use your MCI Card.* Iocs! telephone card or cell cattect__an at the same low rates.
IOC) Country w-wuntry calling available. May not be available tO/Fram ell intenieb'onel locations. Certain
restrictions apply, -ir Umltod availability. ▼ Wait for second dial ton& A Available from LADATEl public
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able from public pay phones. • Public phones may require deposit of coin or phone card for dial tone.

YY0mlWNE\ S x It Take You Around The World

From MQ

Imprimepar Offprint. 73 made VEvangile, 7S0I8 Paris.

INTERNATIONAL HERALD TRIBUNE, TUESDAY, SEPTEMBER 13, 1994

Page 3

m Ins

THE AMERICAS/

^X'CUo,

Sr,%'ts"^D*oxin and Cancer
SSfl^'robably linked,
U.S. Agency Finds

.Wfnwsl - ....

urn* ■

-‘An

By Gary Lee

If) fiki.*. Washington Pest Service

\1 • WASHINGTON —Hie En-
fa** k ,■ vironinental Protection Agency

^V 4 wgr,l | 4 has concluded in a long-awaited

tttoswrit “" l ‘ c '«• study that dioxin — a class of

mitti tJdi!\ 1 1 . : ^ potent chemical compounds

to totohiuvi,,!. that works its way into fish,

«»l ifut !?,c" i Jl- meat and dairy products —
I^IbiUm, N*S .< v, :i,i r! »' fc; probably causes human cancer,
ww tiei-i *i ' ‘ The 2,000-page report, to be

fa auihi's'i- V released Tuesday, is the agen-

j^nvoii » r ’ ! cy*s strongest statement about

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*ri*cti um! j,
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Trip to .Mo»*ohv

Lung cancer is the most com-
mon cancer presumed to be as-
sociated with dioxin exposure.
The study said most of the ad-
verse effects from dioxin occur
at a level 10 to 100 times that to
which most Americans are ex-
posed.

Although dioxin first came to
public attention as a contami-
nant in the herbicide Agent Or-
ange used in the Vietnam War,
99 percent of known dioxin
emissions in the United States
now come as a by-product of
incineration of medical and
municipal waste that contains
some form of chlorine.

“At this point, we are not
recommending that the Ameri-
can public change any dietary
habits as a result of this study,”
a source said. “If there are any

actions to be taken, they wifl

in 1,00ft and one in lo’66o of ah probably be on the pan of the
cancers, according to the study. ‘ t ** era ^ government.”

A copy of the study was ob- One step is the agency’s plan
tained by The Washington to request that industry and en-
P 051 - vironmental organizations sub-

mit all data they have about the

— — — release of dioxin in the United

States or about the exposure of

Cubans Sail chemical

The call for data is designed
to help the agency deter min e
whether further regulation of
dioxin is needed, an agency
source said

The government is aware
only of some amount — proba-
bly no more than half — of
dioxin sources in the United
States, according to the study.

the cancer threat of dioxins and
reinforces a tentative conclu-
sion the agency reached in 1983.

The study stops just short of
labeling dioxin a known carcin-
ogen. Malting that determina-
tion calls for more study on
human-exposure levels, an
agency official said
_ The study estimated that
flioxin and related compounds
are responsible for between one

To Beat
Deadline
For Exodus

KaKti.-- OiuIu. Aeffici- Franc. -PfiiM;

COMMEMORATES G A COUP — Chile's former dictator. General Augusto Pino-
chet, crossing himself at a service marking the 21st anniversary of the coup he led.

Clinton Has Boxed Himself In
On Haiti, Policy Experts Say

UC Mii ’-.V

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Reuters

MIAMI — U.S. Coast Guard
crews were busy Monday as
more than 1.000 Cubans rushed
to beat their government’s
deadline for the end erf the exo-
dus of “boat people."

A Coast Guard spokesman
said 1,004 Cabans were inter-
cepted in the Florida Straits on
~~ ~ Sunday, followed by 189 early
• ; v v • Monday afternoon.

' ' : ? There was additional concern
about (he danger the boat peo-
ple were facing Monday as the
remnants of a tropical storm
reached into the 90-mile (145-
kilometer) Florida Straits. The
storm, designated Debby, hit
the eastern Caribbean" with
heavy rains and high winds
throughout the weekend.

“It’s rougher than it has been
in the last several days," said
Lieutenant Commander . Scott
LaRocheHe. .

“We really couldn’t charac-
terize it as an absolute deterrent
right now," he said of the storm,
noting the number of Cubans
picked up Sunday.

The Cuban government,
which reached an immigration
accord with the United States
on Friday, has promised to be-
gin a crackdown on Tuesday to
halt the flow of people leaving
the island on homemade rafts,
inner tubes and flimsy boats.

More than 9,500 Cubans
have been picked up at sea by
the Coast Guard so far in Sep-
tember, bringing the total num-
ber in 1 994 to more than 35,000.

Jamaican authorities said a
^roup of 24 Cuban boat people
— 10 men, 6 children and 8
women — landed on its shores
Sunday, bringing to 50 the
number of Cuban refugees now
in Jamaica.

By John M. Goshko

Washm^ftm Pent Service

WASHINGTON — As Pres-
ident Bill Clinton presses ahead
with plans to invade Haiti,
many foreign-policy experts say
he lias crossed the line of no
return.

Despite the risks, any retreat
from his vow to overthrow Hai-
ti’s military government would
be a devastating blow to the
credibility of his presidency and
of U.S. foreign policy.

That is the near-unanimous
view that emerges from inter-
views in recent days with schol-
ars and other specialists, in-
cluding some who have held
senior positions in government.

Some of those interne wed
question whether Haiti poses a
genuine threat to U.S. interests,
and fear that a mili tary inter-
vention could bog down the
United States in "a long-term
occupation.

.An invasion also could ex-
pose Mr. Clinton io attacks
from congressional Republi-
cans and even some Democrats.
Recent polls show- the Ameri-
can public has strong doubts
about an invasion and could
become angered with Mr. Clin-
ton if intervention resulted in
large numbers of U.S. casual-
ties.

But the experts say that if Mr.
Clinton flinches from his un-
equivocal, public threats to use
force, he would be regarded as a
laughing stock in foreign minis-
tries around the worldT

His only hope of avoiding
such humiliation, without in-
vading. would be if Haiti’s mili-
tary rulers heeded U.S. calls to
surrender power and leave the
Caribbean island republic.

"If he doesn't intervene now,
he will look like the worst fool
in the modern history of Ameri-
can diplomacy." said Piero
Gleijeses, professor of Ameri-
can foreign policy and Latin
American studies at Johns
Hopkins School of Advanced
International Studies.

“He has left himself no wig-
gle room at all,” said Chester A.
Crocker, distinguished research
professor of diplomacy at
Georgetown University and as-
sistant secretary of state for Af-
rican affairs in the Reagan ad-
ministration,

“After all the beating of tom-
toms in recent days. I don't see
how we can walk away now and
say, “Well, Haiti really wasn't
very important after all.' "

“We have reached the stage
where the administration
doesn’t seem to have any alter-
native to an invasionr” said
Donald F. McHenry, a profes-
sor at Georgetown University
and U.S. envoy to the United
Nations in the Carter adminis-
tration.

The major reason Mr. Clin-
ton — and President George
Bush before him — had been
reluctant to do that was aware-
ness of the chilly response that
talk of invasion provoked in a
Congress and public unwilling
to take on the complicated new
foreign problems of the posl-
Cold War era.

“In my view the president has
not made his case for an inva-
sion,” said Bob Dole of Kansas,
leader of the Senate’s minority
Republicans. "Until he does. 1
oppose an invasion of Haiti.”

The Democrats have been
more supportive of the White
House position that Mr. Clin-

ton has the authority to inter-
vene without seeking congres-
sional authorization. But most
Democrats in Congress have
expressed a clear preference for
dealing with Haiti through
means short of military force.

Nor has Mr. Clinton received
any encouragement from the
public. A Harris Poll at the end
of July found that 23 percent of
adult Americans say they do
aot know or understand any-
thing about the situation in
Haiti.

Among the 77 percent who
said they had some knowledge
of Haitian events, 62 percent
opposed the use of U.S. troops
to restore Haitian democracy.

Experts say that the real test
of congressional and public re-
action to an invasion would de-
pend on whether it was per-
ceived to be a success or failure.
The 1983 killing of 220 Marines
by a car bomb in Lebanon
turned public opinion massive-
ly against U.S. involvement
there.

Conversely, Mr. Bush’s use of
U.S. troops against Iraq in the
Gulf War gained great popular-
ity because it was a big military
success accomplished with min-
imal casualties.

More direct parallels with
Haiti are offered by two U.S.
military operations "in the Ca-
ribbean during recent years:
President Ronald Reagan’s
1983 intervention in Grenada
and Mr. Bush's 1989 invasion
of Panama. Both met the test of
quick success with light casual-
ties. and. as a result, neither
became a major post-invasion
political issue in Congress or
with the public.

POLITICAL NOTES

I.j'V

Getting Set for Health Debate

As they return from a two-week recess that
began with universal health insurance legisla-
tion dead and incremental measures in criti-
cal condition, determined Senate optimists
are still working to pass a measure that would
insure about half the 39 million Americans
who currently lack coverage.

The senators themselves will not be meet-
ing until later in the week, but their staffs
spent most of the time their bosses were away
looking over the details of the plan offered by
the self-styled Mainstream Coalition, a bipar-
tisan group of about 20 senators, and making
line-by-line comparisons with Democratic
bills.. .• -

Senator John H. Chafee, Republican of
Rhode Island, who has led the bipartisan
group, said that those talks have been going
“quite well." Senator Edward M. Kennedy,
Democrat of Massachusetts, who has been
the Senate's leading voice for national health
insurance since 1970, said there were fewer
sticking points than he had expected.

“We are much closer to agreement on many
of them than had seemed possible," he said!

Still, a very steep uphill path lies before
them. It is made especially dif&cuh by the
lack of enthusiasm for health care legislation
that many Democrats have encountered at
home, the fact that they would prefer cam-
paigning for re-election to making possibly
futile efforts on health care, and the pressure
on President Bill Clinton to take a firm posi-
tion — to make it dear that when he said he
would veto a bill that fell short of universal
coverage, he meant it. (NYT)

Panting for Votes In California

In a victory for working women that might
also translate into women’s votes, California's
governor, Pete Wilson, has signed into law a
bill that prohibits employers from prohibiting

female employees from wearing slacks to
work.

“Women make important business deci-
sions every day," the governor said. “Indeed,
working women should be able to make the
simple choice on the professional business
attire they wish to wear.”

Mr. Wilson is running against Kathleen
Brown, a Democrat, for re-election and needs
all the women's voles he can get.

The law, effective Jan. 1. also is designed to
hdp stop sex-based price discrimination
against women. It directs the state Board of
Barbering and Cosmetology to notify licens-
ees that prices for haircuts "must be based on
the difficulty of providing the cuu not on
whether the customer is a woman or a man.
Critics say many women are charged far more
money than men for haircuts. f 2_-4 7~>

Jeb Bush Opponent Bows Out

The way was cleared for Jeb Bush, a son of
former President George Bush, ro face off
against incumbent Lawton Chiles for Flori-
da’s governorship when his last Republican
opponent announced he would withdraw
from the race.

Jim Smith, who was defeated by John Ellis
(“Jeb") Bush in Thursday's Republican pri-
mary. announced at a press conference that
he had decided not to take part in a runoff.

Under Florida law, the top two Republican
vote-getters in the primary had faced a runoff
because the winner, Mr. "Bush, had failed to
obtain a majority of votes cast. (Reuters)

Quote / Unquote

Adolphus Roberts, a witness of the crash of
a light plane at the White House:

“It had lights on both wings, it turned left
and lined up with the White House. I beard a
large boom sound. There was no fire, no
nothing."

(AP)

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• A strong earthquake shook Northern California and Neva-
da, but there were no immediate reports of damage or injuries.
The quake had a preliminary magnitude of 6.0 on the Richter
Scale and was centered about 30 miles (50 kilometers) south-
west of Lake Tahoe.

• About 95 percent of Americans believe in God and 90
percent believe in heaven, but significant minorities of Chris-
tians do not believe in such tenets of their religion as the virgin
birth, according to the Harris Poll Of the four in five
Americans who describe themselves as Christian, 99 percent
believe in God, 89 percent in the survival of the soul after
death, 87 percent in miracles and 85 percent in the virgin birth
of Jesus. Slightly more than three-fourths of the Christians
believe in the devil and hell.

• Nicole Brown Simpson's parents were made the legal guard-
ians of her children, aged S and 6. O. J. Simpson, who has
been charged with the murder of his former wife and a male
friend, did not contest the arrangement.

• A Ford Motor Co. employee accused of shooting four co-
workers, two of them fatally, was embittered over internal
union politics. United Auto Workers officials said. Oliver
French, 47, allegedly walked out of a weekend meeting at a
Dearborn, Michigan, UAW office, returned about 20 minutes
later and opened fire.

AP

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For further information on the
conference, please contact:

Brenda Erdmann Hagerty
International Herald Tribune
63 Long Acre, London WC2E 9JH, England
Tel: (44 71) 836 4802
Fax:(44 71)836 0717

Page 4

INTERNATIONAL HERALD TRIBUNE, TUESDAY, SEPTEMBER 13, 1994

^ 70*

WJYrcdo LoeSThe Anodised Press

TV satellite trucks setting up outside the White House to report on the crash of the plane on the South Lawn.

Police Say Pilot Had Prior Mental Illness

Compiled tv Our Stiff From Dispatches

WASHINGTON — The pilot of the
plane that crashed onto the White House
grounds Monday had “a prior history of
mental illness,” investigators said.

A Secret Service spokesman, Carl
Meyer, identified the phot who died in
the crash as Frank Eugene Corder, 38,
and added: “Prelixnmaiy investigation
has determined that Corder has a prior
history of mental Alness.”

Mr. Meyer said the reports of Mr.
Cottier's mental Alness could include
anything from "a diagnosis of paranoid
schizophrenia to alcoholism” and would
be one of the points to be determined by
the inquiry.

Mr. Corner's family has said that he
had an alcohol problem.

Mr. Meyer said at a White House
briefing that it appeared the single-en-
gine plane flown by Mr. Corder had been
stolen from the Harford County airport
in Maryland on Sunday night.

The authorities said Mr. Corder was a
freight truck driver at Baltimore Interna-
tional Airport Relatives said he had

ties and had no strong political beliefs.

Mr. Meyer said no evidence had been
found of a political motive, but he said
he believed the suspect had a rrimmal
record because Baltimore police had pro-
vided a picture of him.

Secret Service and FBI agents spent
most of the morning at the Harford
County airport, where a Cessna 130
trainer aircraft was missing, according to
the president of a private group that
owns the airport

Joe Kesser, 71, the airfield's flight in-
structor and manager, said he remem-
bered giving Mr. Corder a flying lesson
about two years ago, but that he termi-
nated the lessons when a state policeman
told him the man had a drug problem.

(AP, Reuters)

been distraught over the death of his
father and the recent breakup of his

father and the recent breakup of his
marriage.

John Corder, 41, said he had not
talked with his brother since his brother
moved out of the Perry Point, Maryland,
house he shared with his wife, Lydia,
three weeks ago. The couple had no chil-
dren.

John Colder said his brother had nev-
er been in any trouble with the anthori-

BREACH: How Did Pilot Get Past Security to Crash at White House?

Continued from Page 1

Iy, any suspicion of an organized attempt
on the president’s life, or terrorism.

A Secret Service spokesman, Carl Mey-
er, said that imm ediately after the crash,
agents at the White House did not know
whether the pilot had had a heart attack,
whether the plane had run out of gas or
whether the crash was meant as a diver-

The wreckage was searched and no ex-
plosives or weapons were found, Mr. Mey-
er said.

Treasury Secretary Lloyd Bentscn,
whose department oversees the Secret Ser-
vice, ordered a full inquiry into Secret
Service methods and procedures, to be
concluded in 90 days.

According to initial reports, the phot
stole the aircraft Sunday night, did not file
a required flight plan, and flew low to
avoid radar detection by controllers at

National Airport, just a few miles away
across the Potomac River.

The pilot took off from a small regional
airport north of Baltimore and eventually
passed over the city at a very low level
before the plane skidded across the lawn,
cr ashing into trees along the way.

Unconfirmed reports suggested that the
Secret Service, which is said to maintain
anti-aircraft batteries on the White House
roof, detected the plane 14 seconds before
it hit. It then flipped over and came to rest
against the ground-floor office window of
the president's doctor.

White House sources told news agencies
that security forces had fired no shots at
the plane as it came down, but Mr. Meyer
refused to confirm that. A witness on the
ground, Adolphus Roberts, said the craft
had been quiet as it passed overhead and
seemed to have glided into the White
House, with only wingtip lights visible.

CAIRO:

A Deal Emerges

Success Summary at Cairo

political and social agendas.
UN officials say they hope the

UN officials say they hope the
strategies endorsed by the con-
ference will curb the rate of
population growth. They expect
a rise in world population to
7.27 billion in the year 2015, an
increase from 5.67 billion to-
day. But they warn that if wide-
spread family planning is not
available the world's popula-
tion could jump to 7.92 billion
people in 2015 and 123 billion
m 2050.

The most controversial chap-
ter — which evoked angry ex-
changes among Islamic and
Catholic leaders and many lib-
eral delegates from Western
countries — revolved around
the chapter on “reproductive
rights and reproductive health.”
The reference to other unions
outside of marriage was re-
moved.

Western delegates who sup-
ported the clause said the con-

Reuiers

Here is a summary of some of the main
successes scored by the different parties at the
population conference in Cairo:

cent was kept because of later
references to various forms of

references to various forms of
family. Muslim states attacked
the phrase as endorsing homo-
sexual unions.

MUSLIMS

• Inserted a clause saying implementation
of the document should be “consistent with-
. . lull respect for the various religions and
ethical values and cultural backgrounds” of
nations. Islamic groups had warned that the
West was using the Cairo conference to im-
pose its views.

• Removed “other unions," as in “mar-
riage and other unions,” from the text be-
cause they were worried it would give implicit
backing to homosexual relationships.

• Removed a passage on sexual rights in
the document because they feared it would
promote promiscuity.

• Removed a reference to an “alternative
to early marriage” for young women because
some Muslim states said this would encour-
age prostitution.

• Changed a call for “equal” treatment in
inheritance rights to the less-defined “equita-
ble.” Under Islamic law a woman receives
only half the legacy her brother receives.

• Won greater emphasis for parental rights

and responsibility over the issue of adolescent
sexual health and guidance.

ROMAN CATHOLICS

• Won greater emphasis for passage saying
abortion should not be promoted as a met. - .?
of family planning.

WESTERN GOVERNMENTS
AND FEMINISTS

• Won recognition of “unsafe abortion” as
a major public health concern and a commit-
ment that governments would deal with its
medical complications. . _ ,

• The focal point of the text," “empower-
ment of women,” stayed at the center of the
conference program. It also urged prohibition
of “female genital mutilation,” or f emal e cir-
cumcision, and the condemnation of rape.

• Kept in a reference to reproductive rights

of “couples and individuals” against protests
from Muslim countries that said the rights

should only apply to married couples.
• Western delegates say the text stil

• Western delegates say the text still refers
to families “in their various forms," compen-
sating for the loss of the term “other unions.”

• Kept out explicit reference to a right for
migrant family reunification, which some
countries feared would open a deluge of im-
migrants.

Negotiators also agreed on
compromise language on the
term “fertility regulation,”
which Vatican officials say can
be used to mean abortion. The
phrase was dropped for the
term “regulation of fertility."

Delegates were also stymied
by a demand from several de-
veloping countries that families
of migrants have the right to be
reunited with their families.

The demand, which met
strong objections from many
Western nations, was dropped.
The document instead calls for

BOMB: Protestant Group Claims Attack in Dublin

Continued from P*ge 1
nolly Station after a two-and-a-
half-hour journey. Connolly is
one of the two main train sta-
tions here.

An Irish Rail spokesman said
two women on the seat where
the device had been planted
were cut on their legs.

Irish Rail got a telephone
warning just about the time the
bomb exploded, he added. “We
were unable to dear the train

until after the device had gone
off,” he said.

In London, the British gov-
ernment, anxious to reassure
Northern Ireland’s Protestant
majority, issued what appeared
to be a veiled plea to the United
States against feting the Sinn
Fein leader, Gerry Adams.

It is expected that Mr. Ad-
ams will soon apply for his sec-
ond visa this year.

“We would hope that the

U.S. authorities don’t do any-
thing which would be consid-
ered by the majority of North-
ern Ireland opinion to be
d amagin g to the process,” said
an aide to Prime Minister John
Major.

In their first reaction to the
IRA cease-fire, the Ulster Vol-
unteer Force and other parami-
litaries demanded reassurances
that the cease-fire was perma-
nent.

Kohl Sees
Chances as
‘Not Bad*
In October

Mitterrand Says He’ll Resign
If Cancer Becomes Unbearable

Stolpe in Brandenburg.
Mr. KohL whose par

cusing its election platform on
him, told a news conference the
same “personalization of demo-
cratic politics” was occurring at
the national leveL

Mr. Kohl said nationwide
polls gave his party 42 percent
or 43 percent of the vote.

“We have a chance to build
on this, ” he said “The starting
position for the CDU in the
federal elections is not bad”

The opposition seized on the
weekend defeats of the liberal
Free Democrats, with whom
Mr. Kohl has governed in Bonn
since 1982, as evidence that his
coalition could no longer win a
majority.

“The only national signifi-
cance of these elections is that
Helmut Kohl is gradually losing
his coalition partner,” said the
Social Democratic shadow fi-
nance minister, Oskar Lafon-
taine.

In both Eastern states, the
Free Democrats fell far short of
the 5 percent hurdle needed to
enter Parliament

The crash immediately placed a spot-
light on the Secret Service, its security
operations at Lhe White House and in
particular, its anti-aircraft contingencies.

Larry Sheafe. a former deputy director
of the Secret Service, said on CNN that
speculation about the placement of Stinger
anti-aircraft missiles atop the White House
“could be certainly more than folklore.”

But Mr. Sheafe suggested that fully pro-
tecting the White House in a major metro-
politan area surrounded by numerous
small and large airports was a daunting
task.

It was unclear early Monday how the
White House detected the plane 14 sec-
onds before impact and whether it has an
independent radar system capable of de-
tecting low-flying craft The Secret Service
declined to discuss any specific aspect of
White House security.

Germans

Scoop Up
$26 Million

The Associated Pros

KOBLENZ, Germany
— Germany’s largest lot-

tery jackpot — worth 41
million Deutsche marks

million Deutsche marks
($26.5 million) — was won
by three groups and a single
individual, lottery officials
said Monday.

Lottery fever gripped
Germany over the past sev-
en weeks as the jackpot bal-
looned to a record amounL
People drove to Germany
from neighboring countries
to buy tickets at state-spon-
sored lottery offices. Ger-
mans who had never played
before also caught the lot-
tery bug.

The winning numbers
were pulled Saturday dur-
ing a live broadcast on the
ARD television network.

The super Lotto jackpot
wfli be split among betting
groups in Rhineland- Palat-
inate, Baden-W iirttembexg

and Hesse states. The indi-
vidual winner lives in
North -Rhine- Westphalia
state.

Winners were also an-
nounced in the regular lot-
toy — called just Lotto —
with 19 groups or individ-
uals sharing 20 million
DM.

The five-member betting
group in southern Hesse
had only played together
twice for Lhe huge super
Lotto jackpot*

By Joseph Fitchett

International Herald Tribune

Reuters

BONN — Chancellor Hel-
mut Kohl said on Monday his
party’s chances in a general
election Oct. 16 were “not bad,”
but the opposition Social Dem-
ocrats said weekend regional
elections showed he was losing
his grip on power. ‘

Mr. Kohl’s Christian Demo-
crats were returned to office in
Saxony with an increased abso-
lute majority on Sunday, but
the Social Democrats scored a
similar landslide victory in
Brandenburg.

Hie chancellor said the vic-
tories reflected the great per-
sonal popularity of the two
state premiers, Kurt Bieden-
kopf in Saxony and Manfred

PARIS — Seeking to reas-
sure French opinion. President
Francois Mitterrand said Mon-
day night that he intended to
stay in office until the end of his
term in May, but pledged to
leave if his cancer became so
painful that it impaired his abil-

Kohl, whose party is fo-
ils election platform on

tty to govern.

In 90-minute interview
shown live on television, Mr.
Mitterrand, looking gaunt, be-
came the first French leader to
publicly discuss questions
about French acceptance of the
Vichy government in occupied
France.

Acknowledging that he had
been “slow” to realize the impli-
cations of P&tazn’s policies, Mr.
Mitterrand denied that his
youthful conservatism ever in-
volved anti-Semitism or sympa-
thy for war criminals.

Beyond doubts about his
health, Mr. Mitterrand has

has shattered the French Social-
ists, infuriated Jewish organiza-
tions and outraged the Resis-
tance movenent.

Mr. Mitterrand acknowl-
edged Monday that the disclo-
sures about his political begin-
nings have “caused suffering
and honest worry” among
many Socialists who have sup-
ported him. But he said that he
was at peace with himself about
his record as a reformer.

The uproar stemmed from a
book, “A French Youth: Fran-

cois Mitterrand 1934-1947,’
that documents changes in his

biographers had only hinted at
andwnich critics now claim is
proof of cynical opportunism.

It shocks the French, said the
author. Pierre Pfian, because
Mr. Mitterrand’s actions are
depicted as quite usual in the
period and because Mr. Mitter-
rand has chosen to stop cover-
ing up his flirtation with Pfetain-

have wanted a realistic account
before historians could treat
this formative period as a cyni-
cal pursuit of power. j

“Only once did he press his
own interpretation,” Mr. Prim
said, “asking me to notice that
he always worked for social jus-
tice, whatever his ideology.

The book depicts Mr. Mitter-
rand as a politician who, even
when he swung over to the Re-
sistance, spent less time sabo-
taging dee Germans than ma-
neuvering for a postwar role.

The disclosures are viewed by
Socialists as destroying what lit-
tle credibility they have left as a
party he forged in 1973, with
many leaders blaming him for
larJrmg real convictions.

Mr. Mitterrand's political
technique, dating from Vichy,
involves an almost conspirato-
rial network of personal friend-
ships, often among his ideologi-
cal enemies, including Rent
Bousquet, the Vichy police-

been beset by a swarm of essays
and books attacking him as he

completes 14 years in power.
This summer he ignored

This summer he ignored a
best-selling expose, “Miner-
rand and the 40 Thieves,” in
which the rightist author Jean
Montaldo linked insider-trad-
ing scandals to the French pres-
ident's inner circle.

Bui his aloofness cracked
over disclosures about his activ-
ities SO years ago when, as a
young politician, he gave his
allegiance to the collaboration-

ist Vichy government, only be-
latedly switching to the Retis-

latedly switching to the Resis-
tance.

Breaking a French taboo
about the gray area between
collaboration and patriotism, a
new factual account of the
young Mitterrand's maneuvers

“Everyone knew," a former
Resistance leader said, “but it
suited everyone for it to be ru-
mor so that you could accept it
or deny it depending on wheth-
er you liked Mitterrand or hat-
ed him.”

Decades of political manipu-
lation of the facts means that
this sordid era now arouses ex-
traordinary interest, according
to Eric Conan and Henry Rous-
so in their new book, “Vichy, a
Past That Won’t Pass Away.”

“Instead of fading, the black-
and-white cliches about the pe-
riod become more obsessional,”
they write, explaining that
young people are fascinated by
a period that is rarely depicted
in its full complexity.

In cooperating with Mr.
Prim, Mr. Mitterrand seems to

chief. Acquitted in a postwar
trial, he continued as a friend of
Mr. Mitterrand until the mid-
1980s, when new charges sur-_
faced. *

Mr. Mitterrand rebuffed
charges of anti-Semitism, and
Mr. Pfcan found no hint of it
beyond Mr. Mitterrand’s work
alongside anti-Semites.

A final reproach is that Mr.
Mitterrand's disclosures have
started a subtle rehabilitation

of the Vichy regime — a view
Mr. Pfcan does not reject if it
mains that understanding is
preferable to stereotypes.

U.S. Official in Cambodia

The Associated Press

PHNOM PENH — Deputy
Assistant Secretary of State Pe-
ter Tomsen arrived Monday.

[Monday.

However, national opinion

S ills show support for the Free
emocrats ranging from 6 per-

Democrats ranging from 6 per-
cent to 8 percent.

NATO Allies Open Exercises
With 7 East Europe Nations

Party leader and Foreign
Minister Klaus Kinkel said he

was disappointed but insisted
that Sunday's results did not
mean a similar fate awaited the
Free Democrats on Ocl 16.

The chancellor said he would
continue to stress that the So-
cialists had betrayed a postwar
consensus among democratic
parties by forming a minority
government in the Eastern state
of Saxony-Anhalt that relies on
tacit support from reformed
Communists.

Describing this as “one of the
most elementary mistakes- of
the past decade,” he renewed
his charge that the Socialists
planned similar arrangements
at the national level.

By Rick Atkinson

Washington Post Service

BIEDRUSKO, Poland — NATO took the
first tentative steps toward expansion into
Eastern Europe on Monday with an elaborate
military exercise involving six NATO allies
and seven former Warsaw Pact adversaries.

With flags flapping and brass bands
thumping, troops from the 13 nations
inarched onto a parade ground here for the
opening ceremonies of what the Polish prime
minister, Waldemar Pawlak, called “a new
dimension in partnership.”

The 650 soldiers then immediately repaired
to the field for training in marksmanship,
patrolling and other military skills geared
toward future peacekeeping operations.

Code-named Cooperative Bridge 94, the
five-day military exercise is the first so-called
Partnership for Peace undertaking. It is in-
tended to bridge the gap between the North
Atlantic Treaty Organization and its newly

and perhaps Slovenia could become members
within a few years.

Participants in this week's exercise include,
from NATO, the United States, Denmark,
Germany, Italy, the Netherlands and Britain.

The former East Bloc nations taking part are
Poland, B ulg aria, the Czech Republic, Lithu-

cooperative neighbors to the East
“dearly today marks the brain

“Cleariy today marks the beginning of a
new chapter in die history of NATO and of
Europe,” said General George Joulwan, the
supreme Allied commander in Europe. “Five
years ago we faced each other across an Iron
Curtain as adversaries. Today we train to-
gether as partners.”

General Joulwan urged the assembled sol-
diers to share with their comrades at home
“the vision of a new Europe, a peaceful and
co ope rative Europe from the Atlantic to the

Partnership for Peace, approved by the
NATO heads of government last January, is
intended as a temporizing measure to im-
prove cooperation while deferring the delicate
question of expanding the alliance from its
current membership of 16 nations.

Many of the 22 countries that have signed
Partnership for Peace agreements have ex-
pressed a dear and even urgent desire for full
NATO membership, in part as a safeguard
against resurgent Russian imperialism.
NATO is divided over how quickly to expand
the alliance, although a consensus is emerging
that Poland, the Czech Republic, Hungary

Poland, Bulgaria, the Czech Republic, Lithu-
ania, Romania, Slovakia and Ukraine.

Conspicuously absent from the forces as-
sembling in Poland were the Russians, a re-
cent Partnership for Peace signatory with
whom U3L forces recently exercised in bilat-
eral maneuvers near the Ural Mountains.

General Hdge Hansen, a German who
serves as NATO's c omman der in Central Eu-
rope, said all Partnership signatories had
beat invited to Poland this week, but that
Russia had not yet signed on at the time the
invitations were issued.

Reflecting the lack of familiarity between
marry of the participants here, the exercises
have been carefully choreographed and are
limited to company-level operations.

Five companies — respectively command-
ed by a German, an Italian, a Pole, a Briton
and an American — are each comprised of
four platoons of different nationalities. Com-
pany C, for example, commanded by a Polish
captain, has I talian, T j thnanian Polish and
American platoons.

“Some of tiie operators have complained
that tins is pretty baric stuff " said a U.S.
officer. “But when you've got 13 countries
that have never worked together before, it
probably wouldn’t be smart to get too fancy
right away.”

Moreover, several of the military opera-
turns recently undertaken by the United
States and its NATO allies have required the
skills of peacemakers more than warriors.

“There’s a tough balance between the polit-
ical desire to do s omething big and the mili-
tary need to do something that’s really benefi-
cial,'’ said General David M. Maddox,
commander of the U.S. Army in Europe.

“It’s hard to suppress the appetite to go
mount a division attack,” General Maddox
said. “But for one thing , I'm not sure who
we’d attack these days."

UN Reports Heavy Bosnia Shelling,
British Warn of a Possible Pullout

Reuters

SARAJEVO, Bosnia-Hexze-
govina — United Nations
peacekeepers reported heavy

shelling attacks Monday in a
northwest Bosnian enclave, a

northwest Bosnian enclave, a
day after Pope John Paul II
appealed for an end to ethnic
hatred and religious intolerance
in a visit to former Yugoslavia.

In a separate development,
Britain warned that it would
withdraw its UN peacekeeping
troops from Bosnia if the UN
lifts an arms embargo against
Muslim-led forces.

Serb and Muslim-led Bosni-
an troops dashed in the Bihac

enclave and traded about 400
artillery and mortar rounds.

The two armies were fighting
around Otoka, northwest of Bi-
hac town, in the enclave where
Moslems are surrounded by
Serb forces.

Despite the fighting in the
enclave, Serbs had not resumed
shelling of Bihac town. Major
Dacre Holloway said.

Serbs halted artillery attacks
on the Muslim-held town over
the weekend after the UN
warned them that they risked
NATO air attack if they persist-
ed in shelling Bihac, situated in
a UN-declared safe area.

In London, Defense Secre-
tary Malcolm Rifkind said Brit-
ain would have to pull out its
contingent of more than 3,000
peacekeepers if the arms ban
were lifted, allowing weapons
to flow freely to the Muslims.

“If the UN was to deride to
start supplying arms to one of
the combatants in this war,
there is no way in which UN
forces could r emain in Bosnia
on a bipartisan basis,” he told
lhe BBC.

In eastern Bosnia, three Brit-
ish UN soldiers died on Mon-
day and five were injured in an
accident.

governments to take special ef-
forts to “enhance the integra-
tion of the children of long-
term migrants.”

About a dozen of the dele-
gates, mostly from the Vatican
and Muslim countries, said they
were still uncomfortable, but
could live with the draft. Vati-
can officials said they would
give their final verdict on the
document at the plenary session
on Tuesday.

Western delegates and many
feminist groups praised the pas-
sage of the chapter on repro-
ductive rights.

MERGERS: 3 Food, Pharmaceutical and Financial Companies Announce Major Takeover Operations in U.S.

Continued from Page 1

counter operations of Sterling
Winthrop Inc. in the United
States and Canada. SnrilhKline
Beecham bought Sterling’s
global over-the-counter drug
business from Eas tman Kodak
Co. on Aug. 29 for S2.9 billion.
It is selling the U.S. operations
to Bayer through the latter’s
subsidiary. Miles Inc. The deal
includes the rights to use the
Bayer name in the United
States.

Bayer lost those rights when
its UJS. business was confiscat-
ed and later passed on to Ster-

The company said it would
change the name of its North
American subsidiaries to Bayer
as quickly as possible.

“This is a special event in the
history of our firm,” said
Manfred Schneider, the chair-
man of Bayer. “We are pleased
that we will now, after 75 years,
be able to do business once

more under our company name
with the Bayer cross symbol
without limitations.”

Mr. Schneider said the deal
would double Bayer’s North
American over-the-counter
drug business to more than
$600 million.

The pharmaceutical industry
in the United States has been
going titrough a wave of con-
solidation and mergers — in-
cluding the $8.5 billion offer
last month by American Home

Products Corp. for American
Cyanimid Co. — because of
pressure to reform health ser-
vices and cut costs.

Brands included in the deal
include Bayer Aspirin in North
America, Midol analgesic prod-
ucts and Phillips’ Milk of Mag-
nesia. SmithKline Beecham
said it would retain the rights to
PanadoU an analgesic, and Ga-
viscon, an antacid sold in Cana-
da.

American Express said it

would buy the Boston-based
Thomas Cook Partnership in
the United States, the tnird-
largest travel agency in the re-
gion. It also will buy the world-
wide business travel operations
of Thomas Cook Group Ltd-, a
separate company based in
London.

A German bank, West-
deutsche Landesbank Girozen-

trale, bought a 90 percent stake
in the companies from the late

in the companies from the late
Robert Maxwell in 1 992 for 600

million Deutsche marks ($385
million), slightly more than it
obtained from the sale to Amer-
ican Express. With a partner,
the charter airline LTU GmbH,
it will keep Thomas Cook’s lei-
sure travel and travelers’ check
and foreign exchange business-
es. The bank also owns 34 per-
cent of LTU and 30 percent of
Touristik Union International
GmbH, the biggest travel com-
pany in Germany.

American Express said the

two businesses it bought would
generate more than $3 billion in
annual sales, lifting overall an-
nual travel sales by a third, tog,
$12 billion. American Express
executives said the deal would
enable it offer a better service to

big international companies,
which increasingly demand in-

tniini ■ m il - . r .i _■

tegrated management of their
travel costs. The business travel
market amounts to about $140
billion a year in Europe and
$120 billion in the United
States, the executives said.

(Reuters, AFX, AP, AFP,
Bloomberg Knight-Ridder)

bust

Alt

TH| ft

IHI ft;

INTERNATIONAL HERAT!) TRIBUNE, TUESDAY, SEPTEMBER 13, 1994

Page 5

& r<

V

In the past
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m * t»*L^**i M lM.1 > Ifcvf I j nj « Jjrrs Ik UkMMli m jurf II \| j>. ffjJ.nju. ^ t

Page 6

TUESDAY, SEPTEMBER 13, 1994

OPINION

Heraltt

INTERNATIONAL

(tribune

PUBLISHED WITH TIIK NEW YORK TIMES AND THE WASHINGTON POST

Bosnia and the Embargoes

Ease the Sanctions Now

President Slobodan Milosevic of Serbia
is now willing to let international observ-
ers monitor the trade embargo he has
imposed on the Bosnian Serbs. In return,
the United States, Britain, France, Germa-
ny and Russia mil ask the UN Security
douncil to begin easing sanctions on the
Yugoslav Federation, now consisting only
of Serbia and Montenegro.

That makes sense — if the monitors can
verify that the embargo is being enforced.
The United Nations imposed sanctions
against Yugoslavia to get Belgrade to cut
off the Bosnian Serbs. If that is what
Belgrade is now doing, it deserves relief.
The first steps planned, reopening Yugo-
slavia’s airports to international Bights
and allowing its citizens to participate in
international sporting and cultural events,
are harmless enough in themselves. But it
would be a mistake to take even these steps
without using the same UN resolution to
lift the arms embargo on Bosnia.

The two will be linked only if the
Clinton adminis tration insists on it Eu-
rope. including Russia, is eager to help
Mr. Milosevic, hoping he will pressure
the Bosnian Serbs to accept the interna-
tional partition plan that the Bosnian
government has already accepted. The
partition would be patrolled by interna-
tional troops, including at least 15,000
Americans. But these same European

Focus on the Blockade

A noose of sorts is tightening on Bos-
nia’s Serbs, principal perpetrators of the
Bosnian wars and principal obstacles to
the international peace plan. Serbia, itself
badly hurt by sanctions, had sought to pry
them off fry announcing a blockade of
military supplies to its ethnic kin and
erstwhile clients, the Bosnian Serbs. Fust
accept monitors to police the blockade,
said the Americans, Russians and West*
Europeans. Now Serbia reportedly has ac-
cepted monitors. In return, the allies
promise to lift some of the sanctions.

Serbia could cheat or falter. The Bos-
nian Serbs will sorely conspire to obtain
supplies elsewhere. Yet the significance
of an effective Serbian blockade cannot
be dismissed From bong an irresponsi-
ble patron of its client's war and a full-
fledged adventurer in its own right, Ser-
bia has become, thanks to sanctions and
war fatigue, a potential key participant
in ending the war on imperfect but in-
ternationally approved terms. By im-
posing a blockade and opening up to the
monitors, Serbia takes on the role of
chief enforcer to deliver the Bosnian

countries vehemently oppose Washing-
ton’s proposal to pressure the Bosnian
Serbs by lifting the unjust arms embargo
against the Bosnian government, a step
that would eventually let Bosnia protect
its own interests without massive inter-
national intervention.

Unlike the sanctions against Mr. Mi-
losevic, the Bosnian arms embargo is
not tied to specific policies. Originally
imposed against all parts of the former
Yugoslavia, it disproportionately hurts
Bosnia because the heavy weapons left
by the Yugoslav Army on Bosnian soil
were seized by Serb militias when the
fighting began. Sealing Mr. Milosevic's
border will not be enough to overcome
this disadvantage. Only when Bosnia
can buy arms to defend itself can it
assure compliance with any peace terms
without outside intervention.

There is a risk that Bosnia would ose
new arms to abandon peace diplomacy
and try to recapture lost territory. But
that danger can be countered if relief
from the arms embargo is linked to Bos-
nia's continued acceptance of the latest
international peace plan.

If the issues of sanctions relief for Yu-
goslavia and for Bosnia are now separat-
ed, Europe will never agree to lift the
Bosnia embargo. That is why the United
States must insist on linking the two from
the outset, beginning this week.

— THE NEW YORK TIMES.

Serbs to the international peace plait.

For making good, Serbia deserves in-
ternational reward. But Serbia, which
bears the chief responsibility for turning
political disintegration in the old Yugo-
slavia into military conflict, has its work
cut oat for it. It is not simply that the
Bosnian Serbs have spurned the only
peace plan on the table. They are still

mmHiietfng militar y stran gula tion zmS-

sions in Muslim-held enclaves in eastern
Bosnia and, newly in cooperation with
Croatian Serbs, at Bihac in the northwest
For Serbia to return to international
good graces it must see to the whole and
essential purpose of changing the Bosni-
an Serbs’ policy from war and conquest
to peace and withdrawal.

There r emains the mare familiar op-
tion for evening the odds in Bosnia: lift-
ing the international arms embargo that
disadvantages the Muslim-led Bosnian
government President Bill Clinton and
some of his American critics have favored
this option, even as most of the allies
nqect it Perhaps it will come to that But
the Serbian blockade of the Bosnian
Sobs is the option to play out first

- THE WASHINGTON POST.

Reconciliation: Mandela Finds a Sound Model in Chile

W ASHINGTON — On the hun-
dredth day of his presidency, Nel-
son Mandela announced that he would
send Parliament legislation establishing
a Truth and Reconciliation Commission
to deal with human rights abuses of
the apartneid era.

Mr. Mandela is confronted with the
h uman rights conundrum of the ’90s:
how the newly liberated deal with the
crimes of the past

It is the issue of our time because, from
Eastern Europe to Latin America to
southern Africa, never have so many peo-
ples emerged so suddenly from tyranny.
Now they come face to face with the
same dile mma: what to do with the past?

One can talk about war crimes trials,
as do many human rights preeners in the
context of Serbia or Haiti. But such talk
is mostly bluff. (At best, they’ll catch a
few small fish.) Mr. Mandela is no bluff-
er. Which is why he spoke not of crimes
and tribunals but of truth and reconcilia-
tion — borrowing precisely the approach
taken by the most successful new democ-
racy of the decade, Chile.

In 1990, Chile’s democratic government
took over from a military dictatorship that
had come to power in a violent 1973 coup.
Several years of murderous repression bad
followed that putsch. Hie military finally
handed over power to a democratically
dected government. But h had long before
decreed itself an amnesty. What were
the democrats to do?

By Charles Krauthammer

They could not sweep crimes of this
magnitude under the rug. Yet they could
not seek criminal convictions because
abrogating the amnesty would have
sparked cavil unrest and invited another
coup and more suffering. So they decid-
ed, with a principled wisdom admired
and emulated all the way to Pretoria, that
between absolution and justice lies truth.

They decided to pursue, above all, a
full and unimpeachable accounting of

It is the human rights
conundrum of the ’90s: How
skould the newly liberated deal

the past. Hence, by presidential appoint-
ment, the National Commission on
Truth and Reconciliation.

The logic of this approach is powerful-
ly elucidated by a commission member,
Jos£ Zalaquett, in his introduction to the
English edition of the commission's re-
port (University of Notre Dame Press,
1993). The dflcrnm^ explains Mr. Zala-
quett, is simple. When you defeat human
rights violators in war and pulverize them
into unconditional surrender, (here is no

predicament. You de-Nazify. You hold
war crimes trials. You do what yon will
within the norms of international law.

But what happens when the surrender
is only partial? What happens when the
l osing side gets to participate in the
transition to democracy and is still a
force in the new society?

In Chile, the old dictatorship gave
way, bat it still controls the army. In
South Africa, the white minority is one-
eighth of the population, part of the
government, economically dominant and
needed for the rebuilding of the country.
Pursuing full justice in these conditions is
impossible without risking chaos and
bloodshed. So, instead, one seeks the
possible and the honorable: truth.

The CMlean commission investigated
in excruciating detail every single “disap-
pearance, ” every murder, every assassi-
nation (including those by anti-govern-
ment guerrillas). It ranged up and down
the country taking testimony from thou-
sands of witnesses. The result is a me-
thodical catalogue of honors.

Hie commission was not a tribunal,
however. It named the victims but not
the perpetrators. It did not presume to
attribute guilt to individuals.

Why? Because “to name culprits who
had not defended themselves and were not
obliged to do so would have been the
moral equivalent of convicting someone
without due process,” says Mr. Zalaquett.
“This would have been in contradiction

with the spirit, if tiie Jenet^ tlw rule

of law and human rights principles. _ >
The release of the truth commissions
findings — by President Patricio Ayhvin
inTtdevised address — had an dcctnc ;
effect cm Chile. To the victims, particular-
ly die “disappeared," it gave identity, a
resurrection m dignity m the national con-
sciousness. To the victims’ families it gave

the balm of knowledge and die repose that

comes from a final accounting
Perhaps most important, it gave the
country a catharsis. Its findings were ao-

115 UKHUiUlU pcfiw — - -j - w—

politically disparate members of the com-
miorion without a note of dissent. It leaves
no quarter for revisionists. It established a
benchmark of conseosnally acknowledged
truth that is a legacy for the future.

Not a complete victory for justice — m
such circumstances there could be no
such a victory — but triumph enough.
And executed with such judiciousness
and scruple that the new South Africa
has chosen the Chileans’ model to deal
with the crimes of apartheid.

A wise choice. Mr. Mandela has taken
as his model people who take the princi-
ples of Human rights so seriously that
they apply them even to themselves; peo-
ple who know the dangers tit fanaticism;
who have made their first duty after
liberation not vengeance and retribution
but truth and social peace.

Washington Post Writers Group.

Blame This American Decline on a History of Self-Inflicted Wounds

W ASHINGTON — When I
began in journalism more
than 50 years ago, the United
States was struggling to survive
the hardships of the Great De-
pression and soon would face the
privations of World War H Iron-
ically, both experiences would
leave the nation more prosperous
than ever. The United States
emerged in the late 1940s with the
most powerful economy in the
world, and for decades it re-
mained unrivaled.

Today, the United States is the
world’s largest debtor, and many
critics insist that it is a second-
class power. America's decline in
self-esteem puzzles both allies
and rivals. Many Americans
search for a scapegoat They
should be looking in the mirror.

The wounds to America's eco-
nomic health and national pride
have been largely self-inflicted.
The coon try’s recent economic
history is a story of official blun-
ders, mismanagement stupidity
and irresponsibility.

By Hobart Rowen

This is the first of two articles.

It is a story that begins in the by imposing higher interest rates.

1960s, with President Lyndon
Johnson's inheritance of an un-
precedented level of prosperity,
with good jobs and no significant
inflati on. But his embrace of an
unwinnable war in Vietnam —
and his insistence that Americans
could have both “guns and butter"
— put the country on a course
from which it has yet to recover.

The Vietnam buildup de-
stroyed the delicate social fabric
woven during the Eisenhower and
Kennedy years and by Mr. John-
son’s Great Society.

Lyndon Johnson faced two un-
palatable choices in seeking funds
to pay for his escalating war. to cut

government spending or to
raise additional taxes. Unhappily,
he did neither. He thus let the
inflati on genie out of the bottle,
touching off a devastating spiral
that, ultimately, the Federal Re-
serve Board was forced to battle

Mr. Johnson's decision, in-
dulged by a spineless Congress,
helped to generate a flight from
the dollar. His gamble was that an
economy already overheated by a
business boom could somehow
absorb the costs of an increasing-
ly bloody war and still escape
inflationary price increases.

The United States was thereby
set on a course that slowly debili-
tated its fundamental economic
health. Six presidents — two
Democrats and four Republicans
— would fail, at critical times, to
make the decisions that would
have ensured prosperity as the
country struggled to survive a pe-
riod or extraordinary technologi-
cal change and fierce competition
from on ce-p rostrate allies.

We Americans have been the
victims over the past 30 years of
an almost sublime mismanage-
ment in Washington. We have

An Admirable Agreement Haiti: & h Not Up to Clinton Alone

V/ -m. -r cur vnnv . _ — » . i

Russian and Chinese leaders have
signed an accord to end one of the
world's bitterest border conflicts. For the
first time, as President Boris Ydtsin said,
practically the entire border between the
two giants has been legally settled.

The “practically” refers to the still-
unresolved status of two islands on the
Amur River, and another on the Ussuri
River. These are relative flyspecks, un-
likely to provoke the furious confronta-
tion that led to armed clashes in 1969.

Under the accord, signed in Moscow
on SepL 3, the two countries say they will
no longer target each other with nuclear
missiles or use force against each other.
They will also limit sharply the number of
troops deployed along the frontier. This
parallels Moscow’s similar agreements on
nuclear targeting with the United States
and Britain, and taken together with oth-
er Russian troop withdrawals goes far to
dispel the worst fears of the imperial era.

Russia's expansion eastward and
southward into Asia and westward into
Europe was justified over the centuries
by czars and Communists alike as essen-
tial for security. In fact, the opposite
occurred. Closing frontiers and spend-
ing billions of rubles to support a huge

military establishment fed the suspi-
cions that drove the arms race with Rus-
sia’s worried neighbors, among them
China. Neither the czarist empire nor its
Communist successor was saved by its
expansion or bloated armies. But with the
collapse of the Soviet empire, China is
now Russia’s second-biggest trading
partner after Germany — both countries
where Soviet soldiers once glowered
across hostile frontiers.

The new Chinese-Russian accord is un-
likely to end China’s unease about Rus-
sia's intentions. Nor wDl anxieties vanish
in Russia about a thinly populated Far
Eastern frontier, where some 8 million
Russians face 96 million Chinese. Russian
nationalists have already assailed the
agreement as a sellout. For their part,
Chinese Communists worry about conta-
gion from Russia's political freedoms.

But these are footnotes. A long and
bitter dispute has come to a civil conclu-
sion, promising freer movement of
goods, people and ideas across the
world’s longest national frontier. Two
jants have set an admirable example
or other nations, big and small, and for
their own future relations.

— THE NEW YORK TIMES.

N EW YORK — Haiti poses
many difficult questions for
President BQ] Clinton. None is
more prickly — or more impor-
tant to the integrity of his presi-
dency — than whether to ask
Congress for authority to launch
an invasion.

Mr. Clinton told reporters last
month that he did not have to ask,
citing the stance taken by “my
predecessors of both parties."

It is easy to understand why this
president, like others, would prefer
to act on his own. Going to Con-
gress would lead to a trying de-
bate, with the outcome uncertain.

But a unilateral presidential
decision to invade would offend
the U.S. Constitution in a most
profound sense. It would deprive
the military operation of essential
public legitimacy.

The framers of the constitution
knew that giving Congress power
over the decision to make war
would produce messy debates. But
they feared the danger of leaving

By Anthony Lewis

so grave a derision to one person.
As in other aspects of the constitu-
tion, they thought efficiency was
less important than safety.

Even Alexander Hamilton, the
most executive-minded of the
framers, agreed to the provision
assigning to Congress the power
to declare war. So did other lead-
ing figures at the Constitutional
Convention, such as James Madi-
son and James Wilson. Mr. Wil-
son said of war-making:

“It will not be in the power of a
single man, or a single body of
men, to involve us in such dis-
tress; for the important power of
declaring war is vested in the leg-
islature at large."

The delegates left it open to the
president to use the armed forces
to, as they put it, repel sudden
attacks on the United States. But
a deliberate choice of war was to
be for Congress.

A dramatic recent example of a
deliberate choice of war was the
Gulf conflict. Over a period of
months President George Bush
sent hundreds of thousands of
troops to Saudi Arabia. The UN
Security Council authorized an at-
tack on Iraq. There could be no
presidential claim of a need for
secrecy or surprise as a reason
to bypass Congress.

Mr. Bush nevertheless main-
tained that “I have the constitu-
tional authority, many attorneys
having so advised me." (I could
never find out who those sup-
posed lawyers were.) In the end
he did ask Congress for author-
ity. By then, with all those troops
on the ground, he had so framed
the question that it was hard to
say no. Congress narrowly ap-
proved the war.

Haiti similarly presents a delib-
erate choice. Chnton administra-
tion officials are caning an inva-
sion almost inevitable. There can
be no claim of a need for surprise.

Still Bound to Berliners

Loose Lips Over a Voodoo Intervention

They had come to Berlin as occupying
powers and stayed on as protectors. On
Wednesday, officials from the United
States, France and Britain celebrated the
departure of Lhe last handful of troops
who had been a part of Berlin's landscape
for nearly 50 years.

Secretary of State Warren Christopher
was quick to remind Berliners that “even
as our troops leave Berlin, 100,000 Amer-
ican servicemen and women will r emain
in Europe.” But now that the last Red
Army regiment has headed home, the
American military presence is no longer
the reassuring symbol it once was.

Berliners know that improving the eco-
nomic prospects for those Russian troops
ax home ana their countrymen along with

the rest of Easton Europe will do more for
long-term security than all the forces
NATO can muster. That makes continued
ition between the United States

ay as imperative as ever.

Both countries have a considerable
stake in stimulating the East's recovery
by riving it access to the West’s markets.
Both want to spread the West's demo-
cratic political culture to the East. Both
know that, were they to drift apart, it
would alarm others and lead to a revival
of Russian-German rivalry over Eastern
Europe. Together, they can reassure Rus-
sia and its neighbors.

Those shared values bind Americans to
Berliners even as the troops bid farewell.

— THE NEW YORK TIMES.

International Herald Tribune

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LL

W ASHINGTON — Bill Clin-
ton is giving intervention
a bad name.

Used to be, in the good old
days, a command decision was
made by an awesomely bur-
dened president to knock out a
dictator. The country’s lean-
and- mean armed forces were
given secret orders or the CIA’s
airty-tricks department was
“tasked" and had its necessary
finding backdated. Patriotic edi-
tors refrained from publishing
troop movements; leaks were
scornfully denied.

That was then. Now, under the
New Intervention, loose lips no
longer sink ships. On the con-
trary, Mr. Clinton's sneak attack
on Haiti’s ragtag militia is her-
alded by the huffing and puffing
of a spin doctorate gone wild:

• The secretary of state an-
nounces the junta’s “days are
numbered” and America’s UN
ambassador warns the regime
that “time is r unning OUL"

• The Senate Republican lead-
er gloomily predicts that the
troops will hit the beaches in two
or three weeks.

• The Pentagon lets it be
known that the oQI for the inva-
sion and its subsequent foreign
aid will come to $427 million and
change — provided no ammuni-
tion is used

• Editors print stories about
secretly commandeered civilian
cargo ships being loaded at Bay-
onne, New Jersey, the new arse-
nal of democracy.

But security is not being
breached everywhere. In penetra-
tion-proof “dean rooms" in New
York, television news chiefs of
five hostile networks are mapping

By William Safire

out ultrasecret plans to cover the
splashy landing from the best
vantage points. For the hottest
vectors of fire, no old, ugly male
reporters are being considered.

Similar secrecy is being main-
tained along Publishers Row. Lit-
erary agents are dickering for the
bunker diary of Lieutenant Gen-
eral Raoul C&iras, provided he
can hold off the invaders for two
news cycles, shooting “Come and
get me, ya multinational

Lecture agents, notoriously
tight-lipped, are offering top
dollar for the name of the U.S.
commander destined to wade
ashore — unlit pipe clenched in
his teeth — and become the Hero
of Port-au-Prince. What can ex-
plain this phony-war hysteria?
Ctintonites whisper that all the
huffing and puffing is to scare
the junta off the island, thereby
enshrining psychological war-
fare as America’s first line of
hemispheric defense.

But the Clinton warriors have
not reckoned with the ludicrous-
ness factor. When a great power
prances about for months, shad-
owboxing and dazzling the world
at ringside with its fancy foot-
work, it loses gravitar, when
deadlines are extended too long,
the psY-war scheme backfires.
Even if the junta takes a payoff
and takes a powder, the damage
to superpower credibility has
been considerable

What should Mr. Clinton have
done? Six months ago, he could
have begun training a military
force of 2,000 Haitian refugees;

backed up with U.S. air and sea
firepower, they could be re-estab-
lishing their dected government
today. Not every Bay of Pigs has
to be a fiasco.

But that opportunity is appar-
ently pasL How then to oust the
usurpers without mounting a
costly Pentagon extravaganza
or a bonanza for ratings -hungry
media executives as well as dic-
tator-diarists?

Tune for a modest proposal.
Here we are doing a brisk refugee
business with Fidel Castro in
nearby Cuba. Mr. Castro for
years hired out his army to the
Soviets to fight in Africa. Why
not offer him $20 million in cold
cash to said a thousand experi-
enced mercenaries to Haiti for a
week’s governmental transition-
ing? To appeal to humanitarians,
offer a $10 million bonus if he
brings it off without bloodshed.

The bin for the coup? To a
Cuban soldier, a can of C-ration
is a banquet, and he would make
the trip in an oil-drum raft cheap-
er than anything the Pentagon is
renting in Bayonne, New Jersey.
Not only would it be cost-effi-
cient to the Uti. taxpayer, the
Havana-Haiti option would pro-
vide hard currency to a depressed
economy, justify any secret agree-
ments with Mr. Castro to widen
recent talks after a decent inter-
val, reduce exposure of newsies to
friendly fire, and satisfy editorial-
ists everywhere by returning
Cuba to (he Family of Nations.

This manifestly practical idea
will be denounced: as a cynical
ploy, but I willingly risk this in
order to protect the good name
of intervention.

The New York Times.

stumbled through an era of ,
and malfeasance, from Mr. John-
son’s failure to finance the Viet-
nam War through the multiple
failures of Reaganomics. In be-
tween, we have suffered the du-
plicity of Richard Nixon, the in-
eptitude of the well-Tne aning but
h umbling Gerald Ford, the noto-
rious malaise of Jimmy Carter.

chase Ibr dollar stability after the
Bretton Woods system collapsed
in the 1970$ and trade imbalances
mounted. At no time was any
American president willing or
able to combat the menace of the
ofl cartel, the swindlers on Wall
Street or the industrial assault
on the environment.

The self-inflicted wounds that
are the most recent, and therefore
perhaps the most vivid, are those
that resulted from Ronald Rea-
gan's counterrevolution.

The Reagan years widened the
gap between rich and poor. Henry
Reuss, a liberal congressman from
Wisconsin, pointed out that the

huge tux cuts at the top of the
income scale, combined with high-
er Social Security taxes and reduc-
tions in social programs, would
further drew income distribution
from the bottom 60 percent of
taxpayers to the lop 10 percent.
And the major increase in militar y
budgets would attract investment
in the booming, capital-intensive
arms industries in the Sun Belt,
white blue-collar areas in the Mid-
dle West were Hkdy to suffer.

Reaganomics put the New
Deal and the Great Society into
reverse gear. With George Bush’s
help, it stayed that way until Bill
Clinton’s budget and tax package
forced a mild redistribution.

Yet, on balance, the Clinton
package was not, as Time maga-
zine argued, a total reversal of
Reaganomics: Upper-bracket^
earners had enjoyed huge accnmu-^
lations of wealth over the 12-year
Reagan-Bush period. The Clinton
budget of 1993 was only a small
step in redressing the ba l ance .

The Washington Post.

'WeneedtoactfastontheHaitipmblem.’

By NICOLIHjO rt Shapptn* Non (Sio Paolo). CSV Syn&ur.

And again the administration has
sought and obtained a UN Secu-
rity Council resolution authoriz-
ing militar y action.

Before the Gulf War began, 54
members of Congress brought a
lawsuit to make Mr. Bush seek
congressional authority for iL In a
notable opinion. US. District
Judge Harold Greene, while find-
ing the issue not ripe for decision,
rejected the administration's claim
that it was beyond legal scrutiny.

“The court," he said, “is not
prepared to read out of the con-
stitution the clause granting to
the Congress, and to it alone, the
authority *to declare war.’ "

Leading professors of constitu-
tional law and foreign relations
law filed a brief in that case ask-
ing the court to reject presidential
claims of broad unilateral power
to make war. Last month the pro-
fessors wrote Mr. Clinton urging
him, “as a former professor of
constitutional law, to respect the
important constitutional princi-
ples of meaningful consultation
and prior congressional approval

before engaging in war-making.”

Some congressional Demo-
crats, afraid to decide the Haiti*
question, have told Mr. Clinton
not to ask Congress. They are no
better than Dick Cheney, who as
defense secretary in 1990 forgot
his years in Congress and claimed
that Mr. Bush could act alone.

Secretary of State Warren
Christopher, a fine lawyer who
should know better, said the pres-
ident has a “constitutional pre-
rogative” to act. That doctrine of.
presidentialism was rejected by
the Supreme Court in the great
Steel Seizure case in 1952.

There are partisan reasons to
favor or oppose an invasion.
There are conflicting arguments
of substance: the cruelty of the
Haitian regime cm the one hand,
the unhappy record of past US.
interventions on the other. But
none of those considerations
should be allowed to override the
obligations of the U.S. constitu-
tional system. The constitution
is for an seasons.

The New York Times.

IN OUR PAGES; 100, 75 AND 50 YEARS AGO

1894: Italy and lhe Pope

PARIS — Should a rec onciliatio n
between the Qudrinal and the Vat-
ican be brought about, it would
have an immeasurable effect on
events in Europe, and, indeed,
throughout the world. If the King
of Italy would take in hand the
spiritual interests of the Papacy
in every comer of the world, Italy
would pass at a bound into the
front rank among the nations.
Something of this kind must be in .
contemplation, since it is an-
nounced that the Pope is desirous
of creating an ecclesiastical pre-
fecture in the Exythea.

1919: Strike in Boston

NEW YORK — Its business al-
ready seriously crippled and its
citizens badly terrorized by law-
lessness following the police
strike, Boston to-day [SepL 12)
faces the even more grim prospect

of a general strike which would
halt traffic and cut off the electri-
cal supply of power and light
Such a strike would prove a pow-
erful dob to force the authorities
into recognizing the right of po-
lice organizations to join the
American Federation of Labor.

1944: New Yfer Strategy

QUEBEC — [From our New i
York edition:] The strategy that
wpl be used to tighten the Allied
pincers on Japan was discussed
today [Sept 12) by President Roo-
sevelt and Prime Minister Chur-
dull at their first formal “business
sessio n " with their solitary staffs.
The talks were concerned both
with the steps that will be taken in
the near future, when the United
States and Great Britain carry the
chief burden of the Pacific cam-
paign, and with the subsequent
penod, when Russia can be ex-
pected to pitch in a gainst Japan.

*

INTERNATIONAL HERALD TRIBUNE, TUESDA Y, SEPTEMBER 13. 1994

O P I N I O N

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Boris Nikolayevich Preps
For a Visit With a Friend

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T HE SCENE: The Kremlin. The
lime; the day after tomorrow.
The characters: Boris Ydtsin, presi-
dent of Russia, and Georgi Stephan-
opdovich, his chief political adviser.
They discuss Mr. Yeltsin's impend’
ing state visit to Washington.

Boris: Who is the genius who
picked out Sept 27 to start my
Washington visit? Has Gorbachev
taken over my scheduling?

Georgi: No, Boris Nikolayevich.
It was the only way to tie the two
trips to the United Nations and
Washington together. I admit it
hasn't worked out as we intended.

The way we intended? I'm going
just as my friend BQJ will have to lift
the arms embargo on Bosnia and
invade a tiny Caribbean island, like
he was Reagan or Bush or some-
thing. What am I going to say in my
speeds to those congressional lead-
ers? This draft your writers gave me,
Georgi. is like a bowl of kasha. It is
Russian mush, with no theme.

Good Churchill allusion, Boris
Nikolayevich. Bat you know the
problem. We have to avoid the grov-
eling stuff the comrades and the
crazies in the Duma could beat you
over the head with. We can’t offend
Congress, with new aid on the line.
And we can’t give President Clin-
ton’s enemies ammuni tion for the
November elections by hitting the
Russian nationalist thanes.

Yes, I know, I know. That is why
I am soft-pedaling the CSCE and
common security staff that Kozyrev
wants to make the center of my
speeches to the American public and
leadership. Does my foreign minister
really think it is our job to educate the
Americans about what CSCE is?
What is it, by the way, Georgi?

The Conference on Security and
Cooperation in Europe, Boos Niko-
laevich. It came out of the Helsinki
summit in 1975, despite the objec-
tions of Henry Kissinger and the
American right that it would legiti-
mize Soviet conquests in Central Eu-
rope. Of course, along with Gorba-
chev’s misguided policies, the
CSCE’s emphasis on human rights
and the free flow of information un-
dermined the Soviet empire.

Don’t mention to me the name of
former leaders who dream of return-
ing, Georgi.

I Yes, Boris Nikolayevich. The em-
' bassy in Washington also advises that
pushing CSCE as a successor to
NATO would be counterproductive.
It would just set off new articles by
Kissinger or that professor at Har-
vard, Robert BladcwiH, who says
CSCE is just a Trojan horse for de-

NATO. Even certified
like Sam Brown, Clinton’s
representative at CSCE, are reported-
ly upset with our efforts to make
CSCE responsible for security and
peacekeeping in Europe, which of
course means malting nobody re-
sponsible for security in Europe until
we can figure out what we want to do.

Well, can’t Strobe Talbott keep his
troops in line, Georgi, now that he is
deputy secretary of state and that he
has this Holbrooke fellow running
Europe? He must be running Europe
and a lot more, too, to give up that
plush job of ambassador to Bonn.

That is part of the problem, Boris
Nikolayevich. The embassy covers
it in the most recent cable. Both
Talbott and this fellow — here it is.
Assistant Secretary of State Rich-
ard Holbrooke — have become
lightning rods. Kissinger called
Talbott the Henry Wallace of this
administration in a recent think
piece, which would have been dev-
astating if anybody in America re-
membered who Wallace was.

Americans have forgotten the
former governor of Alabama?

Not George, Boris Nikolayevich.
Henry. Henry Wallace. Ran for pres-
ident on the leftist Progressive Party
ticket in 1948. Squishy soft on com-
munism. Republicans handled him
like you can handle Gorb ... I
mean, a certain former leader who
dreams of r unning against you in *96.

And Kissinger went after Hol-
brooke, too?

No, Holbrooke’s opponents seem
to be the ones in the White House
with media connections. There were
these little sniper shots at him in the
newsmagazines at first for being too
ambitious and latching on to Mr.
President Clinton in Bolin like Vel-
cro. Now there is a shotgun blast in
Vanity Fair magazine, which makes
it sound like be would run over his
grandmother to get thing s done.

Hmmm That doesn’t sound
good. Is he behind this new heavy
em phasis on Germany by my good
friend Bill?

Could be. Trouble is, Holbrooke
has ideas and pushes them. The em-
bassy says he’ll cut through that dis-
organized State Department like a
knif e through butter, if his “friends’ 1
at the White House don’t trip him up.

So how long am I in Washington?

Two days. You leave on the 29th
for San Fran ... no, make that Seat-
tle. We were going to do San Francis-
co, like you wanted. Then I remem-
bered tha t ex-leaders who dream had
already done that on a state visit
The Washington Post.

LETTERS TO THE EDITOR

Hie Future of NATO

Regarding the report “Russia in
NATO? Germany and the U.S. Dif-
fer ” (2d edition. Sept. 2):

The German defense minis ter.
Volker Rtthe, is right when he says
that the Central European countries
should be brought into NATO soon.
But the U.S. secretary of defense.
William Perry, is just as right in
ref using to rule out Russian mem-
bership; for that would turn the ex-
pansion of NATO into a dangerous-
ly crude anti-Russian move.

As long as the door is open to
Russia, NATO expansion is a step
toward a common European home.
But if NATO gobbles up the rest of
Russia’s former empire and sl ams
the door in Russia's face, it will
drive Russia into a corner and
make fools of the Russian demo-
crats who trusted the West.

When Russia agreed to pull out
of its empire and to German reuni-
fication within NATO the West
promised that NATO expansion
would not take place at Russia's
expense. One would think that a
German defense minister would be
mindful of this pledge.

As long as the democratic regime
remains in power in Russia, the
Western allies will not agree on
expanding NATO membership on
brazenly anti-Russian terras. The
only result of proposing NATO ex-
pansion on such terms is to prevent
expansion, not speed it up.

The so-called fast track for Cen-
tral Europe in NATO is a fraud.
Most of the proposed criteria for
NATO membership would not only
exclude Russia but, if applied hon-
estly, would exclude the Central Eu-
ropeans for decades to come.

Mr. RAhe says the admission of
Russia would “blow NATO apart";
the French used to say the same thing
about a dmissio n of Germany. His
alternative, letting in a bunch of
s mall Central European countries,
would create more problems for
NATO than Russia ever could.

The main problem lies in the num-
ber of prospective members, not in
their character. NATO is already
finding it virtually impossible, with
its 16 members, to make timely deci-
sions for dealing with the rapid-fire
crises of the new Europe. Until there
is a streamlining of decision-making
procedures, every new member will
make it even more hopelessly slow.

NATO needs to learn from its
experience, and for that matter
from the decades of experience of
the European Community. The
Community concluded long ago
that it must streamline, or “deep-
en,” its decision-making process
each time it broadens its member-
ship. NATO needs to get on with a
serious discussion of broadening
and streamlining, and then with ac-
tually negotiating the terms and
protocols for new membership.

IRA STRAUS.

Annandale. Virginia.

On the Warsaw Uprising

Regarding “ From the Liberation of
Paris, Potent Myth of National Unity
Arose ” (Aug. 22):

The article says of the 1944 War-
saw uprising that “the Red .Army
halted to let the German garrison
destroy . . . [the] underground Pol-
ish Communist leaders." On the con-
trary. it was the Polish Home .Army,
loyal to the Allies and Lhe Polish
goverament-in-exile in London, that
the Germans sought to decimate.
Likewise, the Soviets, by their inac-
tion, lent their complicity to the
Home Anny's destruction in order to
eliminate opposition to the Commu-
nist puppet government they had in-
stalled alter “liberating" Poland.

YVONNE KOWALCZEWSK 1 .

Montclair. New Jersey.

Defenders of Rights

Joe Trippi. a media consultant for
the Democratic Party, is quoted (Po-
litical Notes, Aug. 31) as saying that
a candidate's stand on the death pen-
alty lets the American voter know
whether the candidate is on the side
of the victims or is “an ACLU liberal
on the side of the criminals.” The
American Civil Liberties Union is on
the side of the U.S. Constitution and
the rights that it guarantees to citi-
zens. Does Mr. Trippi deem the con-
stitution “criminal ” too?

HARRIET ARMSTRONG.

Grevinge. Denmark.

A Persistent Trouble-Maker
With a Body That's Unreal

By Anna Quindlen

N EW YORK — My theory is that
to get rid of Barbie you would
have to drive a silver stake through
her plastic heart Or a silver lame
stake, the sort of thin g that might
accompany Barbie's Dream TenL
This is not simply because the
original Barbie, launched lo these 35
years ago. was more than a little
vampiric in appearance, more Nata-

MEANWHILE

sha of “Rocky and Bullwinkle” than
the “ultimate girl next door" Mattel
describes in her press kit

It’s not only that Barbie, like
Dracula, can appear in guises that
mask her essential nature: surgeon,
astronaut Unicef ambassador. Or
that she is untouched by time, still
the same parody of the female form
she has been since 1959.

She is said by her manufacturers
to be “eleven and one-half stylish
inches’* tall. If she were a real live
woman she would not have enough
body fat to menstruate regularlyT

The silver stake is necessary
because Barbie — the issue, not
the doll — simply will not be put
to rest.

“Mama, whv can’t I have Bar-
bie?”

“Because 1 hate Barbie. She gives
little girls the message that the only
thing that's important is being tail
and thin and having a big chest and
lots of clothes. And she's a terrible
role model."

“Oh. Mama, don't be silly. She's
just a toy."

It’s an excellent comeback; if only
it were accurate. But consider a re-
cent study at the University of Arizo-
na of the attitudes of white and black
teenage girls toward body image.

The attitudes of the white girls
were a nightmare. Ninety percent
expressed dissatisfaction with their
own bodies and many said they saw-
dieting as a kind of panacea. “2
think the reason I would diet would
be to gain self-confidence,*' said
one. “I'd feel like it w-as a way of
getting control." said another.

And they were curiously united in
their description of the perfect girl.
She’s 5 feel 7 inches and weighs just
over 100 pounds (1.71 meters and 46
kilograms), has long legs and flowing
hair. The researchers concluded"
“The ideal girl was a living manifesta-
tion of the Barbie doll.”

While the white girls described
an impossible ideal, black teen-
agers talked about appearance in
terms of style, attitude, pride and
personality. White respondents

talked “thin," black ones “shapely.”

Seventy percent of the black teen-
agers said they were satisfied with
(heir weight, and there was little
emphasis on dieting. “We’re all
brought up and taught to be realistic
about life," said one. “and we don’t
look at things the way you want
them to be. You look at’ them the
way they- are.’’

There is irony in that. While black
women correctly complain that they
are not sufficiently represented in ad-
vertisements. commercials, movies,
even dolls, perhaps the scarcity
of those idealized and unrealistic
models may help to liberate black
teenagers from ridiculous standards
of appearance.

when the black teenagers were
asked about the ideal woman, many
asked: Whose ideal? The perfect girl
projected by the while world simply-
didn't apply to them or their commu-
nity, which set beauty standards from
within. "White girls." one black par-
ticipant in the .Arizona study wroie,
“have to look like Barbie dolls.’’

There are lots of reasons teenage
girls have such a fun-house mirror
image of their own bodies, so dis-
torted that one study found that S3
percent wanted to lose weight, al-
though 62 percent were in the nor-
mal range. Fashion designers still
showcase anorexia chic: last year
the supermodel Kate Moss was re-
duced to insisting that, yes, she did
eat.

But long before Kate and Ultra
Slimfast came along, hanging over
the lives of millions of girls born in
the second half of the 20th century
was Barbie's impossibly curvy
shadow* (40-18-32 in life-size terms,
equivalent to meLric measurements
of 102-46-82).

That preposterous physique, we
learn as kids, is what a woman
looks like with her clothes off.

“Two Barbie dolls are sold every
second.” says Barbie’s resume,
which is more extensive than that
of Hillary Rodham Clinton. “Bar-
bie doll has had more than a billion
pairs of shoes . . . has had over
500 professional makeover-
s . . . has become the most popular
toy ever created."

Has been single-handedly re-
sponsible for the popularity or the
silicone implant?

Maybe, as my daughter suggests
while she whines in her Barbie-free
zone, that is too much weight to put
on something that's just a toy.
Maybe not. Happy birthday. Bab’s.
Have a piece or cake. Have two.

The New York Times.

BOOKS

•n

PRETTY BOY FLOYD

By Larry McMurtry and Diana
Ossana. 444 pages. $24. Simon
& Schuster.

Reviewed by
Susan Dooley

P RETTY BOY Floyd was a
real-life bank robber who
became a popular legend during
the Great Depression, when
foreclosures turned the bankers
into bad guys.

Handsome, a womanizer who
won the ladies with his little-
boy charm, Charley Floyd is
testimony to the fact that the
public was no more discrimi-
nating about choosing heroes in
the 1930s than it is today. As
depicted by Larry McMurtry
and Diana Ossana, the Oklaho-
ma-born Floyd was as dense as
the dust blowing through his
native state.

From his first robbery, a
blundering attempt in the fog

CHESS

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By Robert Byrne
j\7ISHWANATHAN AN-
V AND beat Gala Kamsky in
Game 3, in the FIDE quarterfi-
nals.

The Marshall Gambit in the
Ruy . Lopez, 8..jd5, sacrifices a
pawn in the hope of exploiting
White's leisurely development.
Missteps by White are often fa-
tal and for him to play to win is
usually a tense, exacting task.

The throat of 16.~Ne3 17 Re3
Re3 18 fe Bg3! 19 hg Qg3 20
Kfl (or 20 Kh! Bg4) Bh3 21
Ke2 Bg4 was eliminated by 16
Bd5 cd.

As is usual in the M ars h al l
Gambit, White is pmned down
to defense on the kingside and
must find his only chance for
active counterplay on the other
wing with 19 a4.

The game followed a known
channel up to 22 Raal , but then
Kamsky avoided 22 — b4 23 Qh5
BcS 24 Nf3 hg 25 Qh3 Bh3 26
hg Bg3 27 fg Re3 28 Rfi3 Re3 29
KJ2 Ke6 30 Ra5, which gave
White a very superior endgame
in a Ceshkovsky-I. Ivanov game
in the 1976 Soviet champion-
ship. The American repeated
moves with 22... BcS 23 Ra5
Bb7, but Anand did not want a
t _• • draw and varied with 24 Nf 1 .

»•" Kamsky damped down on
the e file with 25-JRe4 and
’ ■* ' * 27 i5, but before he had the

, r • chance for 2S.J4, Arnold pried
' him loose with 28 Qs 2 29

f3 Re! 30 Rel 31 -Bel- After
that simplification, Kamsky s
attack was over.

. Nevertheless, he should have
\\ j* • J ' tried to exploit the momentary
awkwardness of Anand’s pieces
‘ : ' after 34 Qf2 by pJaving

; 34~Qb5, with the idea of an-

Educorton Piretfory

Every Tuesday
Contact fasd ft c* 1 ® 1
Tel.: 13311AS3793 9J.
Fa* (33 1)46 37 93 70
or your poorest IHT office

or representative

KAMS KY/BLACK

i*

ANANO/WHTTE
Final Position

swering 35 Bel by 35~Qd3. But
he gave up the chance for piece
pressure for the sake of ex-
changing a pawn with 34...a4 35
Ng2 a3 36 ba Ba3.

Anand’s 43 Qb2! put
Kamsky under heavy pressure:
43,~Kg6 44 Qh8 Bh6 45 Nf5!
KfS (or 45...Qf5 46 Qg8 Kh5 47
g4j 46 Qh7 Qg6 47 Qd7 Qe6 48
Qh7 Qg6 49 g4 wins everything.
But Kamsky should have tried
43...Be7. Kamsky’s 43...Qg6
lost a second pawn after 44 Qa2
Qe6 45 Qd5 Qd5 46 Nd5.

Kamsky played 60~Ke6, but
seeing that he had no defense
against 61 c6 B&4 62 Bf4 Bb2 63
d5 Ke7 64 d6 KdS 65 Bg5 Ke8
66 d7, he gave up.

RUY LOPEZ

While

Black

White

Black

Anand

Kamsky

AflBBd

Kamsky

I f*

e5

32 802

6

2 Nf3

Ncfl

33 Ne3

86

t BbS

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afi

NIB

34 on

35 NgJ

a4

si

5 00

B*7

36 ba

Ba3

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ltd

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43 Qhi

Qgfl

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44 Qa2

QHI

14 g3

Qh3

45 Qd5

QdS

15 Hr3

Refl

46 Nd5

Bc6

16 &d5

cd

47 C4

Kefl

17 on

IB Nd2

Ra7

48Nc7

Kd7

Rac7

49 Kf2

Ba?

19 >4

ba

50 Ke2

B&2

20 Ra4

h5

51 NbS

21 Ra5

Bb7

52 Ig

18

22 Raal

BCS

S3 K03

Ba!

23 Rb5

Bb7

54 Kc2

Be4

24 Mn

>14

55 Kb3

B<D

23 Raal

Rc4

56 Nc3

Kefl

2fi B42

hR

57 NdS

KB

27 hfl

15

56 Nb4

Be2

MQg2

29 n

8S

59 cS

60 Kc4

Bdi

Kefl

30 Rel

Rel

and

31 Bel

Orf

Resigns

where he and his partner bump
around like blind bats, to his
last, where the getaway car is
put out of commission by a
herd of cows, Charley Floyd’s
career is one of remarkable in-
eptitude. The authors try to im-
bue him with an aw-shucks
charm, but when Charley isn’t
turning over small-town banks
or strutting about flashing the
money he’s stolen, he is whining
his way from woman to woman,
com plaining that it wasn't nice
of J. Edgar Hoover to make him
Public Enemy No. 2. How can a
fella rob banks when the spot-
light's in his eyes?

Next to easy money, what
Charley likes best is easy wom-
en. Not his wife. Ruby, of
course. She’s his great love, a
long-legged, skinny thing like
so many of those women who
stare out of Dust Bowl photo-
graphs, children hanging onto
then- skirts, desperation in their
eyes. While Charley is out doing
his banking or spending time
behind bars. Ruby stays home,
fretting about his fate and try-
ing to make enough money to
feed their son, Dempsey.

Charley yearns for his family,
and it’s hard on him, having to
spend so much time with his
girlfriend, Beulah Baird, a wise-
cracking, fun-loving moll who,
given the job of driving the get-
away car, wanders off in the
middle of a robbery to try on
bats.

Charley has one other, regu-
lar squeeze: the aging “Ma"

Ash, a former whore who has a-
fatal attraction for bad boys.

“Despite herself, something
in her softened whenever
Charley looked at her with
those lost-looking brown eyes.

It was her old problem with
men, picking the wrong ones
every time. . . . Every year,
as she got older, she told her-
self she’d learn, do a better job
of picking who $be softened
for.”

“Ma” Ash’s dream is doomed
by her selection procedure —
putting out her hand and unzip-
ping the candidate’s pants — reviews fiction, wrote this for The
just as Charley’s dream of a Washington Post.

quiet married life is done in by
his desire to make bank with-
drawals without first putting in
a deposit.

“Ma” Ash tries to be Char-
ley’s mentor, making him wise
to the world of crime, but no
one can mentor Charley.

The authors' vision of Charley
is out of whack. There are times
when he is a parody of a bank
robber, a comic figure frolicking
his way through what might
have ban a funny novd. In one
scene he shows up to rob a bank
and discovers that he's told so
man y people of his plans that his
grandfather and several old cro-
nies have parked themselves out-
side, waiting to watch the fun.
But just as you begin to expect
Good Time Charley, the man
slips away and leaves Charley
the lost souL innocently bearing
the burden of hard tunes.

Occasionally these separate
characters merge. When two
toddlers begin to howl during a
bank robbery. Charley aban-
dons the teller’s cage to quiet
them with lollipops. When one
of the little boys puts the suck-
er in his mouth, wrapper and
all, Charley the comic bank
robber joins forces with Char-
ley the gentle father to caution.
“Oops, you gotta take the pa-
per off. . . . It’ll taste a good
bit better, if you do."

The authors write in a fore-
word that they began the novel
after collaborating on a script
for a film of the same name.

This translation from screen
to page may account for the
herky-jerky feeling that perme-
ates “Pretty Boy Floyd." Some
scenes seem irrelevant to the
progress of the novel but would
probably work very well on the
screen. Or perhaps the problem
with “Pretty Boy Floyd” is sim-
pler than that. It may be that
both authors had imagining s
about the life behind the legend,
and, as they coDaborated, they
were unable to blend them.

Susan Dooley, who frequently

WHAT THEY'RE READING

• Demos PtuOips, a spokes-
man for Commerzbank AG in
Frankfurt, is reading “J.F.K.:
Reckless Youth" by Nigel Ham-
ilton.

“This hot* shows there’s a
different standard applied to
politicians today than was ap-
plied a generation ago. It’s very
in sigh if uL”

(Brandon Mitchener. IHT)

END BUREAUS

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I

International Herald Tribune
Tuesday, September 13, 1994
Paged

Uptown Shoot-Out
In N.Y. Store War

Is Tourism Pushing Out Luxury
In the Mailing of Fifth Avenue?

By Suzy Menkes

Internanonal Herald Tribune

N EW YORK — Fifth Avenue at
57th Street Some kids in base-
ball caps, baggy T-shirts and
sneakers at oa the sidewalk
swigging coke outside the Warner Bros.
Studio Store. Across the street at Beigdorf
Goodman, an uptown shopper teeters out
dressed head-to-toe in Chanel
The carriage trade versus the tourist
trade is the latest in New York’s store
wars. Its Gist casualty has been Galeries
Lafayette, the French department store
that has given up its three-year struggle to
take Manhattan. The store closes its doors
on Nov. 1 and its clearance sale is currently
bidding its customers “Au Revoir and Buy
Buy."

had a dream,” says Georges Meyer,
the Galeries chairman. wanted to have a
permanent and prestigious visiting card in
New York, but 1 have not succeeded. I was
prepared to pay a bit for the publicity, but
there is a difference between losing one or
two million dollars a year and losing $15
milli on. That is publicity that costs too
much.”

What went wrong for Galeries La-
fayette? Was it bad timing, because the
store opened during the long recession?
Was it the awkward retail space at the side
of the glitzy Trump Tower? Or was the
store just not smart enough to survive in
the competitive New York arena?

“The timing was not on Galeries La-
fayette's side — but then hindsight is
20/20,” says George Graf, the store’s
American president. “It is a very advanta-
geous space with foot traffic second to
none. In the past year we have done a
pretty good job and established a regular,
identifiable look — fashion forward for a
younger customer.”

Galeries Lafayette, constrained by exist-
ing arrangements that contracted major
designers to other stores, never carried the
big names. And although Meyer says that
it was policy to choose unkn own names
and secondary lines, Kalman Ruttenstein
of Bloomingdale's dismissed them as
“third-rate resources.” One problem, Graf
admits, is that the European woman is
more of a “free spirit” in fashion, whereas
American women require career clothes
and are reassured by labels.

New York already has more than
enough stores carrying designer clothes —
espcially since the opening of uptown Bar-
neys on Madison Avenue last year.

But the demise of Galeries Lafayette is
significant for what is to replace it: a Nike
Town superstore in which the sportswear
is sold in a multimedia theme park with
basketball courts, match replays on video
screens and background tapes of cheering
crowds — as already established in shop-
ping malls across America.

It is yet another sign of the “mailing” of
Fifth Avenue, once New York’s elite and
exclusive shopping street. A new Levi’s
store is slated to open opposite the Nike
store on 57th Street And although Chanel

is carrying a torch for luxury, with a vast
new store under contraction toward Madi-
son Avenue, a tide of tourism is already
surging down West 57th. Out-of-town ers
line up at the Hard Rock Cafe, Planet
Hollywood and the Hailey Davidson cate
on 56th at Sixth Avenue — with more
themed restaurants on the way.

Store bosses are worried about the
changing character of Fifth Avenue, from
the street peddlers and electronic shops
p ushing up to St. Patrick's Cathedral, to
the tourist souvenirs overtaking the dia-
monds at Tiffany and Harry Winston.

“Can you believe it — the landscape is
going to be completely changed,” says
Gene Pressman of Barneys about the arriv-
al of Nike Town. “But it’s going to make
Madison that much more special”

“There is a lot of life, but it is getting a
little carnival atmosphere,” says Rutten-
stein, while admitting that the Blooming-
dale’s clientele is 30 percent out-of-town.

“We would like to have seen 57th Street
re main an upscale fashion street — a lot of
people out there are not our customers.”
says Dawn Mello, president of Bergdorf
Goodman, although she says that the Plaza
Hotel on the store’s far side, is a plus.

T HE changes in retailing upscale
goods in America have a variety
of reasons. The flight from the
city on a sunny weekend — even
after Labor Day — means that the early
morning crowd outside Blocmingdale’s is
as likely to be waiting for a bus to the
Hamptons as for the store to open.
Homewares as much as clothes are a strong
focus for the 1990s. (Bergdorf has made
over its home department and Galeries
Lafayette introduced home furnishings
this year).

Trunk shows, in which designers take to
the road, are especially successful, says
Rose Marie Bravo of Saks with 45 stores
across the country.

“We have done our biggest tr unk shows
in history with Bill Blass and Ungaro.” she
says. “And the ’opera' shows are doing
very big numbers — evening gowns at over
$5,000. People are into a frivolous mood —
they want to have fun with fashion.”

Ruttenstein agrees that “gutsy clothes
are starting to sell” and says that the
Bloomingdale’s designer business is 20
percent up this season. He cites a million
dollar trunk show for Chanel and Ar mani
— generally the biggest selling designers
for American stores.

Against this increasingly optimistic
background, Paris couture strutted its stuff
last week at a benefit to aid the fight
against breast cancer — a cause that is
being endorsed by Hillary Rodham Clin-
ton at a meeting with American fashion
designers this month.

The Fashion Group’s Night of Stars bad
the usual prima donna dramas as Karl
Lagerfeld pulled out at the last minute,
followed by Gianni Versace, pleading sick-
ness, and Hubert de Givenchy after some

(lttiife: lira vr Ul- Jib l*-vy Apcrvr Mancc-Plac f M I la Ml Cv Tic Nca Yurt Trace Bin t'nrara^ m aiThe Y<ir* Tana

Top left: Bargain hunters at Galeries Lafayette's clearance sale: top right: the crowds line up at Planet- Hollywood: at the Fashion Group 'xrifHgktaf ffi fin Awfia
Stars, from left: Emanuel Ungaro. Oscar de la Renta. Christian Lacroix, Maurizio Galante and Gianfranco Ferre. —

supposed slight. But the evening was a There is a new round of couture musical Yves Saint Laurent. Every window at Saks Yorkers expected a more decorative Ver-

warm tribute to Beraadine Morris, chief chairs — with Berard Perris to lake over at Fifth Avenue frames Saint Laurent’s latest sailles-and-bonbons view of Paris. And

fashion reporter of The New York Times, Jcan-Louis Scherrer, while Scherrer him- couture collection, and the designer — in Graf draws a lessen from the two framed

and to French fashion. Designers Bill self has been talking to Balmain. But de la town for the first time in 10 years — has photographs on his office walL One is of : -ix , ,

Blass. Gianfranco Ferrt of Dior, the Ital- Renta denied that he was p lanning to give prepared a fireworks party Monday at the the Louvre pyramid — a totem of high-

ian Maurizio Galante, Christian Lacroix up couture when his contract expires in Statue of Liberty. tech modernity as the French see: them- [ti* .

and Emanuel Ungaro were first feted at 1995 . Maybe the ultimate fault of Galeries selves. The other is of a pair of ancient 1 1 i.’.'

drinks by Oscar de la Renta — hims elf Lafayette was not to appear French stone steps — suggesting a turreted. Sleep- y "

part of the Paris fashion world though his Further proof that French fashion is enough — as Americans understand it. ing Beauty French castle for a theme-park f .....

work with Balmain. making waves in New York comes from Meyer and Graf both admit that New retail world. . „~Z : "

fail Gain*

From Poetry ‘Slam’ Champ to Star of the Spoken-Word Scene

By Neil Strauss

New York Times Strike

N EW YORK — Mag-
gie Estep doesn’t
have to stray far
from her East Vil-
lage studio here to find inspira-
tion. She constructs humorous
spoken pieces out of the point-
less situations that occur on

NEW FALL
COLLECTION

her doorstep, from the drug
dealers who see her every day
but persist in futile efforts to
offer her crack and “smoke,”
to the male passers-by who yell
“Hey, baby” in her direction.

Thanks to MTV, Estep’s
small world has reached a large
audience. Once just a small cof-
feehouse scene, the spoken-
word movement, combining
poetry, performance an and
stand-up comedy, has catapult-
ed to national attention.

Last year, MTV got the

ESCADA I

bandwagon rolling when it lift-
ed Estep out of the Nuyorican
Poets Cafe in the East Village,
the focal point of the perfor-
mance poetry scene, and made
her a star.

It.broadcast — seemingly ad
infinitum — two 30-second
spots of her stand-up poetry,
featured her on two spoken-
word segments of “Un-
plugged,” and dragged her
around the country on its

ed Estep out
Poets Cafe in

In Paris

Also, Sales
on Summer Collection

Marie-Marline

8, rue de Sevres,

Parts 6th

“Free Your Mind” spoken-
word tour. This summer, she
toured with the LoDapalooza
festival and performed at
Woodstock *94.

Success hasn't necessarily
translated into more material
possessions. Her walk-up studio
on East Fifth Street looks like
the home of a starving artisL

“I’ve gotten paranoid now,”
she said, referring to her recent
success. “I think. ‘Oh my God,
everybody hates me because I
get too much attention.' ”

In basic black — from the
tips of her hair to the heels of
her boots — she expresses her-
self more through delivery than
words. When she said that she
was “going to L-A. and per-
forming in the K-Rock festi-
val.” she stretched out “rock”
with a drawl that hinted at just
how ridiculous die feels about
her popularity with a rock-’n’-
roD audience.

A rough and varied 31 years

have taught Estep not to take
anything for granted. “I grew
up constantly moving,” she ex-
plained, pursing her thick, pur-
ple-painted lips. “My father
trains horses for wealthy peo-
ple, and invariably gets mad at
his employers because they're
trying to push him around, and
quits.”

Bora in Summit, New Jersey,
she has lived in Canada,
France, Colorado, Maryland,
Georgia, New York state and
Pennsylvania. When she was
17, she quit high school and
moved to Manhattan.

She dated punk rockers, go-
go danced for a few weeks and
developed a heroin habit. While
detoxing in the mid-’SOs, she
began writing fiction.

In 1986, Estep put her life
back on track. She went to the
Jack Kerouac School of Disem-
bodied Poetics at the Naropa
Institute in Boulder, Colorado,
to take a summer course with

ESCORTS & GUIDES

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William S. Burroughs, and end-
ed up staying for two more
years. She later completed a
bachelor's degree at Empire
State College in Manhattan.

“The very first reading I did
was in Boulder at this cate
somebody dragged me to,” she
said, stroking tier black-and-
white cat “That was where I
really started learning how to
write. I could just tell what hit
people and what didn’t”

In 1988, Estep returned to
the East Village and supported

anywhere else — until someone
took her to a poetry “slam” at
the Nuyorican Poets Cafe.

Id the 1950s beatnik tradi-
tion, these were loud, smoky
competitions in which the poet
with the most commanding
speaking style, the best sense of
humor and the most confidence
came out on top.

E

STEP became a regu-
lar winner at the

herself by working as an office
manager at the World, a now-

manager at the World, a now-
defunct nightclub, and odd jobs
at the National Writers Union.

She soon became part of the
budding performance scene
that coalesced during open-
mike sessions every Sunday
night at ABC No Rio, a tiny
East Village an space.

When the open-mike series
ended, Estep said, she didn't
feel comfortable performing

| 1 slams; the growing au-
R J diences would shout
for their favorite poems as if
they were at a rock concert
After MTV talent scouts vis-
ited the Nuyorican, what had
been a strictly local scene was
transformed into a celebrity
breeding ground. To the joy
and envy of her colleagues, Es-
tep became a poster giri for the
spoken- word movement
Recently, the Nuyorican
formed a record label with Ima-
go Records called NuYo. Its

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On October 31st, the IHT will publish a
Special Report on

Private

Banking

Among the topics to be covered are:

■ The contrasting management style of
private bankers in Europe and America

■ The boom of private banking in California.

■ Asia —the promised land for private
bankers.

■ Specialized sen/ices aimed at retirees.

■ The growth of real estate services for
private banking clients.

For h^ther infommtion.pl^secxint^SSM^der in Paris
at (33-1) 46 37 93 78, fax (33-1)46 37 50 44.

INTKKNVmiNAL

I MRU MTR TIG Ifwwu TTVf* *■» «* N»*T

first release last spring was Es-
tep’s “No More Mister Nice
Giri,” an album of spoken and

ones that I really truly love and 7 *
will continue to do.”

sung pieces set to music by I
Love Everybody, and on-and-

Love Everybody, and oo-and-
off rock band she has led for
two years.

Estep is uncomfortable cati-

Now, Estep said, demand is y
outstripping supply, and she is
at work on a book-length col-
lection of poems, stones and »
travel diaries. 1' * ^ c.\

ing the pieces on “No More
Mister Nice Giri” poems. She

Mister Nice Giri” poems. She
prefers to think of them as
rants. Though Estep is genial in
person, on her album she is cyn-
ical and confrontational. Her
songs come from the point of
view of an angry woman fed up
with city life. Tm not a normal
giri,” she shouts with punk-rock
attitude in one song. “Fm an

angry, sweaty girl, so bite me.”
The creative process comes

hind her, “but 2 only get one
piece every two months that I
end up using. Of those, only
about two a year end up being

But she can no longer rdy on
MTV for a career boost.. The
network has hardly even played
rite video for “Hey Baby,” a
song from Estep’s album.

“They have that whole ‘Free
Your MukT campaign,” she
said with a sarcasm worthy of
her best spoken pieces, refer-
ring to the MTV tour that she
undertook with John Hall, her
former roommate and a fellow
spoken-word artist. “But you
know. I’ve got a guy grabbing
his crotch in- my video and
John’s got two guys making
out in his, so they tell us our
videos can’t be aired with those
scenes. Yeah, free your mind,
sure.”

International

Classified

Marketplace

cum

• Monday

International Conferences and Seminars

• Tuesday

Education Directory

• Wednesday

,: v

Thursday

International Recruitment
Friday

Real Estate Mariretplace, Hobdays aid Travel
Saturday

Arts and Antiques

: .■? Sr

Plus over 300 headings In International Classified
Monday through Saturday

For further information, contact Phifip Oma in Paris:

Tel: (33-1)46 37 94 74 - Fax: (33-1) 46 37 52 12

» A ’■* •

V 7 O'"*- " T—

u *■> v

JleralbSteSribune.

$ ^

> * H

-A *• *

ft** 1 r

•. •v ^ *• ..

v *(■

ISif'^hn..

T * T<

1095

Asia /Pacific

Eurcon

Approx, weighing: 32%

Close: 12020 Prev.: 128.75

Approx weighting: 37%

Close 1 17.67 Prav.:lia0O

A M J J A S
1994

North America

Appro*. wlghUng: 28%
CteaK 95.47 Prev^ 96 j31

...iwf... *•■

.^w.r

V«l'

■

v v v

' ':> *tf *■ ..*■. ■

- ^"are^iivi- *

:1 16.020

International Herald Tribune World Stock Index ©, composed of
280 intemaBonafly Investable stocks from 25 countries, compiled
by Bloomberg Business News. Jan. 1 , 1982 = 1 00.

120

•:■: *c* ■ ■>■?*** • >'■■

A M J J A S
1994

Latin America

Approx. weighting: 5%
Close; 14025 Prw.; 145.5*

Z * : w- f •■ .'■

77M taftur fraote US! ctoflar vafUss of stocks 4x Tokyo, Now York, London, and
Argentina, Austral*, Austria. Belgium, Brazil, Canada, Ctiito, Denmark, Finland.
France, Germany, Hong Kong, Italy, Mexico, Netherlands, New Zealand. Norway,
Singapore, Spain, Sweden, Switzerland and Venezuela. For Tokyo, New York and
London, the index is composed oi the SO top issues in torn s of market capita&zation,
otbenrtsa the ten top stocks an hacked.

Industrial Sector-;

Pnv. %
doe* dange

Urn. Pm. %

dose dow dem

Energy 116.04 11620 -0.14 CapM Goods 117-60 1 17.98 -0.32

tJ8M» 131,13 130.18 +073 R— HeterMe 136,63 137.75 -0,81

Rnance t14JB7 115J7 -0.T7 Consaner Goods 1Q3.B6 10433 -0.45

Sendees 121.05 121.97 -0.7S HteeCawous 136.52 136.97 -0.33

For more Information about the Index, a booklet Is available Ime of charge.

Writs to Trfo Index, 181 A ww Chafes deGaute, 92521 NsuBtyCedax, France.

Q International Herald Tribune

'S.fJi

International Herald Tribune, Tuesday, September 13, 1994

Page 9

Bank of England
Raises Rates to
Combat Inflation

By Richard W. Stevenson

New York Times Service

LONDON — Hoping to
choke off inflation before it im-
perils the country’s steady if un-
spectacular economic recovery,
Britain raised its benchmark in-
terest rate Monday by half a
percentage point, to 5.75 per-
cent, its first rate increase since
1989.

Following similar rate in-
creases in Italy and Sweden last
month, the move was further
evidence that Europe is now
joining the United States in one
of the trickiest dances in eco-
nomic policy m akin g: damping
down incipient inflationary
pressures without stamping out
Lhe underlying growth.

“The U.K. move reinforces
expectations that the interest-
rate cycle has turned in Eu-
rope," Salomon Brothers Inc.
told its clients Monday.

Britain emerged from reces-
sion a year or so later than the
United States, where the Feder-
al Reserve Board began attack-
ing inflation in February
through a continuing series of
rate increases. But Britain is
further along in its recovery
than Germany and most of the
rest of Europe.

Until recently, many analysts
said they expected the Bundes-
bank to cut rates once more in
the next few months to give
Germany a final push out of its
recession.

But the combination of
stronger-than -expected growth
figures in Germany and the rate
cuts in Britain, Italy and Swe-
den has led some economists to
conclude that the Bundesbank
will not cut a gain and that Eu-
rope's rate-cutting cycle has
come to an end.

“Stronger European growth
prospects, which encouraged the
U.K-’s pre-emptive action, also
make it unnecessary for the
Bundesbank to cut rates fur-
ther," Salomon Brothers said.

After going through its worst
downturn of the postwar era.

Swedish Exporters Warn on Taxes

Social Democrats Face Loss of Domestic Investment

the British economy is growing
at an annual rate of 3.5 percent,
and unemployment has been
falling gradually to its current
level of 9.4 percent

Inflation as measured by the
retail price index is expected to
be 2.4 percent this year, rising
to around 3 percent next year.
But at those rates, inflation
would be well within the gov-
ernment's target range.

There are dear signs, however,
that long-term inflationary pres-
sures are building as industry
bids up costs of labor and raw

'The U.K. move
reinforces
expectations that
the interest-rate
cycle has turned
in Europe.’

Salomon Brothers Inc.

materials and seeks to restore its
profit margins. Just moments
before announcing the rate rise,
the government said prices of
goods as they left factories had
risen a larger-iiian-expected 0.3
percent last month.

For several weeks, econo-
mists have been predicting a
pre-emptive strike against infla-
tion, although few analysts ex-
pected the government and the
Bank of England to act so soon.
In raising rates, policymakers
hope to temper economic
growth by making borrowing
more expensive for businesses
and consumers.

Britain’s Conservative gov-
ernment has committal itself in
recent months to breaking the
boom-and-bust cycle that has
plagued the economy since
world War II. Governments
have repeatedly stimulated the

See BRITAIN, Page II

Compiled by Our Staff From Dispatches

STOCKHOLM — Less
than a week before general
elections, the heads of Swe-
den’s four biggest exporting
companies threatened Mon-
day to take future investment
abroad if a new government
increased income taxes or oth-
erwise threatened business
conditions.

The Social Democrats, who
appear likely to oust the con-
servative government in elec-
tions on Sunday, have threat-
ened to raise the top income
tax rate to 55 percent.

The leaders of Volvo AB,
LM Ericsson AB, ABB Asea
Brown Boveri Ltd. and Stora
Kopparbergs Bergslags AB, in
a statement published in the
daily Dagens Hyheter, rallied
against an increase in taxes
and said Sweden must join the
European Union.

“The uncertainty over the
coming employment and eco-
nomic measures makes a con-
sistent analysis more difficult,
to Sweden’s detriment,” the
four said. “Fixed and well-

known playing rules are nec-
essary to create the security
we need for our planning."

The four — Soeren Gy 11 of
Volvo, Lars Ramqvist of Eric-
sson, Bert-Olof Svanholm of
ABB and Bo Bergrcn of Stora
— called for the marginal in-
come lax rate to remain un-
changed so that Sweden could
compete for the best research-
ers, technicians and other high-
ly skilled employees.

"Marginal taxes of over 50
percent would once again se-
verely decrease our attractive-
ness to recruiters and make it
more difficult to retain neces-
sary expertise in Sweden,"
they said.

The companies, which ac-
count for a third of the coun-
try’s exports, said they
planned to invest SO billion
kronor ($7 billion) per year
over the next five years, and
they “would like to see the
majority of these investments
made in Sweden.”

But they said they would
consider a foreign alternative

if government policies threat-
ened business conditions.

’’Constant and well-known
rules are necessary to create
the continuity we need for our

planning,” the four leaders

said.

They stressed the impor-
tance of Sweden joining Lhe
European Union to future in-
vestmenL

“Slaying outside Europe
would unavoidably imply
compromise of our' interna-
tional credibility.” they said.

Three Nordic countries.
Sweden, Finland and Nor-
way, will vote on EU member-
ship this autumn. If they
agree, membership will take
effect on Jan. 1.

Sweden’s businesses have
benefited from three years of
Prime Minister Carl' Bildt's
mildly monetarist economic
policies after several years of
recession.

Sweden's 26 biggest listed
companies delivered a profit
boom in the first half of this
year, with their combined re-
sults more than doubling.

The pretax or equivalent
profit from all the companies,
ranging from Volvo to the in-
surer Tiygg-Hansa, was nearly
42 billion kronor, up from 1S.8
billion in the previous year.

“In 1994. investment in re-
search and development has
increased 40 percent com-
pared with last year.” they
said. “We are employing
again. Our subcontractors are
working at full speed.”

Swedish businesses have
been a powerful force in the
formulation of government
policy. In July, the Swedish
government bond market was
sent into a tailspin when
Skandia Group Forsakrings
AB, the largest insurance
company in the country, said
it would boycott the bond
market until the government
curbed its spending.

The company still has not
returned to the' bond market,
which never recovered the lost
ground.

{ Reuters , AFP)

OECD Spins Wheels Over Succession

By Alan Friedman

International Herald Tribune

PARIS — The OECD has become dead-
locked over the choice of a secretary-general
and may find it impossible to choose one
before SepL 30, when the incumbent's term
expires. Western diplomats said Monday.

Ambassadors representing the 25 mem-
ber nations of the Organization for Eco-
nomic Cooperation and Development are
to meet Wednesday in their first formal
effort to break the impasse and And a
successor to the incumbent, Jean-Gaude
Paye of France.

But the organization is so deeply divided
that an agreement is unlikely, several offi-
cials said.

The U.S. government, contending that a
political heavyweight is needed to shake up
the staid Paris-based think tank, is backing
Donald Johnston, a Canadian politician^
Mr. Johnston is said to have the support of
nine governments, including Japan. Austra-
lia, New Zealand and two Nordic nations.

Diplomats report that France is pulling
considerable pressure on fellow OECD
members to support Mr. Paye. a former
Foreign Ministry official, for a third term.

A majority of the 12 members of the
European Union have agreed to back Mr.
Paye, who is believed to have eight votes at
present.

Britain remains committed to the candi-
dacy of Nigel Lawson, an abrasive Conser-
vative Party politician who served in the
1980s as chancellor of the Exchequer. Mr.
Lawson is said to have three votes, includ-
ing his home country's.

Lorenz Schomerus. a top German trade
negotiator, is Bonn’s candidate, and so Tar
he has only his own government's support.
Four OECD members are said to still be
undecided.

The United States last week, in a memo-
randum sent to the Washington embassies
of OECD members, restated its desire to
bring new leadership to the organization.
France was said to have been especially

angered by lhe explicit State Department
message, which ruled out even a temporary
extension of Mj. Paye’s term.

A Wesiem diplomat involved in the ne-
gotiations said that if the deadlock were
not broken by Sept. 30, “then Mr. Paye’s
contract will expire, and he will have to
walk out the door, which is one wav to gel
him out of the OECD.”

‘The French government." one OECD
insider said, “appears ready and willing to
pul Mr. Paye through a personal humilia-
tion."

One thing that several OECD diplomats
agree on is that the choice of a successor is
being held up partly because of horse-
trading involving other pending appoint-
ments at multilateral institutions such as
NATO and the World Trade Organiza-
tion. If a deal cannot be struck at the
OECD this month, member governments
might even have to come up with a whole
new set of candidates.

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Thinking Ahead /Commentary’

Japan Gains the Edge in Trade War

By Reginald Dale

International Herald Tribune

W ASHINGTON — At last
there is some good news
from the front in the U.S.-
Japanese trade war Japan is
winning. President Bill Clinton and his
advisers are quietly backing down from
their destructive “results-oriented” poli-
cy, the Clintonian euphemism for man-
aged trade, which has caused the worst
rift in years in U.S.-Japanese relations.

As they approach the next negotiating
deadline,' set by Washington for the end
of this month, the two sides have private-
ly agreed that the time has come to
defuse their damaging confrontation.

After more than a year in which the
adversarial approach has brought Wash-
ington tittle but grief, the U.S. Treasury is
concerned that another setback could pro-
voke a plunge in the dollar and a run on
U.S. stock and bond markets.

Japan is equally worried about a re-
newed surge in the yen. Japanese industry
is adjusting weD to the latest bout of yen
appreciation, but Tokyo fears that neither
industry nor its modest economic recov-
ery could withstand another big rise.

But it is the stealthy U.S. retreat that is
making a truce possible — with Wash-
ington steadily watering down its de-
mands for specific targets for increased
Japanese imports.

The battle is not yet over. U.S. negoti-
ators still want benchmarks of some kind
for measuring progress in ope nin g the
Japanese market — perhaps by simply
unilat erally stating U.S. objectives —

and Tokyo is still determined to resist

There is another complication. For po-
litical reasons, the U.S. climbdown can-
not be too obvious. Mr. Clinton, already
under fire for waffling and indecisive-
ness, does not feel he can afford another
major policy shift so close to November's
midterm elections.

What is more, the U.S. administration
apparently believes it must keep looking
tough on Japan if it is to persuade Con-
gress to approve the outcome of the Uru-

A stealthy U.S. retreat is
making a trace in the
trade dispute possible.

guay Round of world trade talks next
month. Mr. Clinton wants to turn Uru-
guay Round ratification into a major
political triumph, just as he did with
North American Free Trade Agreement
last year.

So, with Japanese connivance, Wash-
ington may still cite Japan as a priority
target for U.S. trade pressure under the
so-called Super 301 provision of its trade
law — just to show that it has not com-
pletely lost its virility — whatever hap-
pens at the end of this month.

But the hope is that enough agreement
can be reached, on opening the Japanese
insurance market and perhaps on gov-

ernment procurement and auto parts, to
head off another big public clash.

It is not just fear of a currency crisis
that is concentrating minds. U.S. officials
began to realize the error of their ways last
spring, after Mr. Clinton's relations with
the Japanese leadership hit a new low and
Japan gave its clearest ever “no” to trade
demands from Washington.

Thanks to the outrageousness of those
demands, Japan, in a rare turning of the
tables, has mobilized support from Eu-
rope. Canada and Southeast Asia, isolat-
ing Washington. It has become ever
clearer that Mr. Clinton's policy has
been based on faulty assumptions.

Many economists say the Japanese
trade surplus peaked this summer, and
the strong yen and economic recovery
should reduce it further. In a study fo'r
the International Monetary Fund, Ste-
phen Golub finds no economic reasons
to support the view that Japan's trade
balance needs to be “managed.”

Additionally, as Gary Saxonhouse of
the University of Michigan points out,
there has been a dramatic increase in
Japanese imports of high-technology
products.

Meanwhile, U.S. manufacturing in-
dustry has regained its competitiveness
— particularly the auto industry, which
is key to the trade balance. Additionally,
Japanese party politics are increasingly
competitive, promising greater influence
for consumers and economic reformers.

Under the circumstances, Mr. Clinton's
trade generals should be offering not just
a truce but unconditional surrender.

4jl

CURRENCY & INTEREST RATES

IATIONAL

SSIFIE 0

ETPLACp

;******"£ ' ■
i m* ‘ ul ' ,,

Cron RatM

Awtfwdcm on

branch 314*5

Frankhn 1SJ»

LMtmni Utt

MoCrtd CUT

Milan 14MJ5

NcwYcratM

Pom 53HS

Tokyo JUS

Toronto ISO

zartco uns

271 U215

JMCB sues
um —

24137

NM7? BLM
34(175 MUM
L57BO 1MI
US 1 W

vast ms

2.M7 UR
uta MR

l ECU IKU CJ136 VJ12S 4447 WMfi 1WJ »S2

| SDR l.«£) OMR 225*4 77W2 221473 2 4597 44417

ewa t In A m atti da m, London New York end Zktrkh, fbti
rotes of 3pjn.

a: To bur one pounds t>: To buy ono not tar; Units ot in
ovoBoata

Oth«r Dollar Vataos

' corrooar Mr* currwev Cwranw

craw Lpwo MW* OfotlOTc. S34J0

AuttroLt 1345 Hook (COM* 7J76* rczcolorfl *

Antr.MM. 1M2S HuonTorW HM* Noratknme

Brass rod M7 IMUuno* 3US PNUmm

CMMMWn Mas* Into, ns** HTVO

Cncftkonao sui lit* i M405 Pwltoexh

DMkfcknM 107* tsraHliMk. M3* Bun. ruble •

EraLpountf 3J3B3 KmraHliBnar 02M2 Som rival

Fkn.irarkfeB «* Motov.rtw. 2SSH sms.i

Sept. 12

FT. LU Ml 17. IF. YH CS Peseta

UBS ailE* 5444 ■ IW L74S5* 13575 U48*

1111 2JJ24* 15JS75 — 217173 L2231 23.Q 2*50*

uni mu* Mts usn* urn uw 1.1271 lans*

UK 245547 27133 4»J» 20MB 15441 2IW 2CW2

213) tiff* 74.157 10377 773 127324 - 9UJ?

9742 90B.1Z 4?j| 13*3 155* IM7.1I 123

S284S 1-5000 17301 3173 LOW TUI 1J*B3 12X23

033*5* 315(2 LUU 4.1127 13243' 35455 111*5*

117? US 5743 1128* 7707 71*1 0772

12771 UD3* 07713 MU* 10*4 1JSR* 10*5-

02431 Mm* T4.U 45411* UK7* UW U007*

4547 154*52 2WJ 37X27 UKH 12531 UM2 15074*

77K2 237073 25307 4*4171 15774 MJ* 15717 M752J

Now York end Zurkht things in other centers; Toronto

ono aoitar; Units ot 100; NJ3.; not auoted; NA; not

Currency Per 5
S, Air. rartd 15*71
S, Kar. won 50000
SwetL krona 7A4B5
Taiwan S 24.1?

TtallMM 34.95

TurUMDra 33391,
DAE dirham 1*737
Vcnci. body. 19300

Forward Rate*

Comney 9B4wy *mov wnw currency 3Mov *»<iov J Wav

PMWSterttno 15M1 V»» 1.55*1 C«w«n.BOliar 1JM2 15*42 U*7S

OentsObc mark 1SW 1J379 1^3» JhWweMvea «L47 9SA4 VHJ0

Sana franc 1382* 1,250*

Sources: IMG San# (AmsmrtonO; tndosuor Bonk (BnamrtsJ; Banco Commerciete iraitana
(Milan); Aeooct Fmae prosse iPartsis Bank at Tokyo (Tokyo/, floral Bonk ot Canada
(Tomato); IMF (SMI. Other deto from Reuters and ap.

sits

Swiss

Franc

sterling

French

Franc

Yen

SepL 12

ECU

3 4r,3 V.

S*v5

5vrf ■»

2W-»*

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5 Wy-5

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2 *.«-2 "4.

634-4%

Eurocurrency Deposits

1 month 4U-4*h tfto-5
3 months 4 r -^5 k. 4 w.

Sources: Reuters, Ucrtts Bank

fTphrs oopitcaaie to Mervank xpc&tv of Si million minimum tor eoulvoJcntl.

Key Money Rates

United Slides Close

PHttMMlittt* AW

prim* rate Tta

Federal hind* 4>v.

MnonMCDs U3

Comm, paper lNUayi 5.13

3- moonTmuryMn 457

1-y*or T rectory bW SJ*

S-yoar Treasury not* 134

5-yoar Treasury note 7JJ7

7-year Treasury note 709

10-year Treasury not* 7.45

30-year Treasury band 7J1

Merrill Lynch 30-day Ready asset 19*
Japan

pbcoufll rate 13*

Call money 3JW

l-moalh Iniertwok 2 *-

> mown Interbank ru

t^nonth Interbank 2*8

10 -yew Government bond 455

Oermoiny

Lombard rare 44)0

CWI money 5JB

l.mnafli In let-bank SM

Mhonth Intsrtxmk 5J»

4- month tntoroaak 5.15

HHrear Bond 7S*

Bank base rot? 5% 51*

Coll money jy,

l-ntaatb i nter b an k £4 5 y,

3- aiogtu Interb ank JK 5n

frtnantb JWertxmk 4 % 5 %

HtorearGUT 18? nil

France

latsrvoaHoa rate 100 cm

Call money 5 v, 5^

1 -month h wertank 5 y. 5 v .

hnoatb interbank SVi 5

4 - moom Interbank s % 5

WnrearOftT 107 K»

Sources: Reuters. Bloomberg, Merritt
t-ynch. Bank ot Tokyo. Cemmerebank.
Gnanwett Monmou. CradU Lyonnais.

2

l*

Tf!

OeM

AM.

PM.

Qi’ob

<15

Zorich

29155

39075

Unch.

London

391J0

391.10

+ 035

MO

New York

17550

394JTO

-050

Hi dollars per ounce. London official fly-
knot; Zurtcn amt Now York openi n g and cica-
ka prices; New York Comes (Decembe r. )
Scurce: Reuters.

Let's do light, Mr. Edison.

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New York, 330 Madison Avenue. New York. N. T. 10017. Tel. (212) 297-3600. Los Angeles, San Francisco. Palm Beach. Monereal. Lugano!
Mexico City. Hong Kong, Geneva, Pari*, Bordeaux, Monaco, Guernsey, Frankfurt, A Member oi SFA

Page 10

market diary

INTERNATIONAL HERALD TRIBUNE, TUESDAY, SEPTEMBER 13, 1994

U^/ATT HECLOSE ^

Inflation Gloom
Hangs Over Stocks

Vlo Anodeted ftc»

Dow Jones Averages

EUROPEAN FUTURES

Daily dosings of the
Dow Jones industrial average

Open HMi Lm Lost dig.

Metals

Indus 3874.14 38M.S3 MflJXJ 38*034-1X47
Trans 1590X2 1S9I M 157X23 157X46—1840
U10 177.41 179.74 17 8X» 17X39 —lift

Comp 131631 1317,45 1X8.12 1308.15 —9.14

Close Prt»iJW

BM Ask BM Ask

ALUMINUM (Wok Orotic)

DoBors p«r metric Mo
Spot 15*8X0 15MX0 156330 156430

Forward 157130 137130 158630 158730

COPPER CATHODES (High Grade)

Dollars ner metric ton
Spot 347730 249830 2481.00 24*230

Forward 251X00 251500 249600 2(9730

LEAD

Dalian per metric ton
Spat *11X0 61100 60850 60930

Forward 6250 62X00 62030 <2130

NICKEL

Do litre per metric foe
Scot 648030 646500 630500 63IOOO

Forward 657500 658000 540000 540530

TIN

Delian per metric tan

Spot 531100 532X00 534SJM 533000

Forward 537000 540000 542000 542530

Compiled by Our Staff From Dispatches

NEW YORK — Stocks fell
Monday on fears that inflation
data due Tuesday would show
rising prices that could cause
the Federal Reserve Board to
raise interest rates, which could
eat into corporate profit.

The Dow Jones industrial av-
erage fell 14.47 points, to

U.S. Stocks

3.860.34, while losing issues
outnumbered advancing ones
by a 13-to-7 ratio on the New
York Stock Exchange.

The price of the benchmark
30-year Treasury bond slipped
3/32, to 97 17/32, with the yield
Steady at 7.71 percent.

Many investors refrained
from any significant commit-
ments before the government
releases its consumer price in-
dex for August on Tuesday.

On Friday, a higher-than-ex-
pected increase in producer

money to companies and makes
equities less attractive relative
to interest-bearing investments.

Hanson PLCfe American de-
positary receipts were the most
actively traded issue on the
New York Stock Exchange, ris-
ing % to 18%. The company’s
shares have recently been active
here and in London in divi-
dend-related positioning.

Borden surged 2% to 13% af-
ter agreeing to be acquired by
Kohlberg Kravis Roberts & Co.
RJR Nabisco, which is owned
by Kohlberg and involved in the
Borden deal, slipped % to 6%.

Standard ft Poor’s indexes

Industrials

Transp.

UtiMl**

Finance

HM Law O 0 *e CM
532X7 54936 55008—137
38421 375,16 37520 -531
15130 15030 15037—1.19
4531 4X28 4X28 —03
44842 466.15 46631 — 137
43X93 43134 43X34 —089

251 400 251500 249600 2477 JO

M A M J J A S
1994 1

NYSE Indexes

Meh low

Composite 2S488 257 JO

Industrials 022.84 321.39

Transp. 243.66 2*0.94

Utaily 2D4.19 20X60

Finance 214.85 213.82

Lost Ota-

25782 —1-06
32166 -1.0*
241 J» — X57
20X62 —18*
21183 -8.98

NASDAQ Indexes

FCb 16625 16000 14025 14025 —130

St Sr: Kfc
£ 1%5 9»U1B=«

jSr NX NX N-T. 15850 — US
Est. volume: lull - Open Irt. 115645

BRENT CRUDE OIL (IPE)

Oct

1X35

1889

1X13

1X12 —0.10

HOY

1680

1X30

1X32

1X32 — (MW

D«C

1X85

1X41

1*53

1X53 — M7

Jan

1X30

1X55

1684

1X64 urwtu

Feb

1656

1X58

1X58

U64 +0JM

Mar

1X72

1X55

1655

1X5S —085

apt

1X55

1655

1X55

lxs — XW

Menr

N.T.

N.T.

N.T.

1657 — 001

Jon

N.T.

N.T.

N.T.

165* +M2

Jhr

N.T.

N.T.

N-T.

1X41 -4-Q85

Aim

N-T.

N.T.

N.T.

1683 + 086

Sep

N.T.

N.T.

N.T.

1X65 +0.11

Est. volume: 37X73 . Open Irrt. 142.973

ZINC (Special HMi Grade)

Delian per metric laa

Delian per i
Scat

Forward

Stock Indexes

United HealthCare to Buy GenCare

ST LOUIS (AP) — United HealthCare Corp.. a fast-grewmg

maintenance ®[® ai ^ t i 0 ^ S f^ssM^^mi had
a^cd to buy GenCare Health Systems Inc. for $520 tnilhon.

^United HealthCare has grown rapidly m

purchases of health care programs such “HMOs. 0^1

American Insurance Co., which owns 72 percent of GenCare *

shares, has agreed to the buyout.

United HeahhCare, which now serves more than ~3 million

people around the country, will pay $47^)0 P 6 ^***®

GenCare’s shares, a 20 percent premium over GenCare s dosing
price of $39 JO oh the Nasdaq stock market Friday.

GM Hughes Plans to Cut 4,400 Jobs

S. __ , /'ll u.^Lar ClaMfnnlnc rWn a

K'? , i

97150 97X50 9MX0 77530
99X00 99L00 9*600 97700

FTSE IN CLIFFS)

LOW Clot* OMR4N:

LOS ANGELES (Reuters) — GM Hugh*? Hcc "J ) 1 nK *§ 01 J’’ 8
unit of General Motors Coip. said Monday it would lay off about
4,400 employees through 1995 and phase out its company-owned

facilities in Fullerton, California. . . ,

The consolidation follows the company s formation last March
of the Hughes Aerospace and Electronics Co. In May, the compa-
ny began planning a consolidation of its defense and systems
operations. ^Hughes said it did not plan to take any restructur-
ing charge for the consolidation.

Financial

Ugh Low La a da.

Hfcfl Low Clan dmw

MAO NTH STERLING (LIFFE)

■30X000 -PtSOtl Meet

SCp 9451 *4X5 94X7 — <U0

D*C 9X73 9326 9330 —637

cn 31468 3101 X 311X0 — MX

M 31568 3117-0 312X0 -MX

m£ 31*48 3U9-D , 31560 -13X

Est. volume: 2X150. Open mt: 6160*.

Technology stocks were
rong, with Unisys rising % to

prices for August pushed stock
and bond prices sharply lower.
Investors are worried that the
Fed will raise rates for a sixth
time this year to slow economic
growth and hold back inflation.

Inflation erodes the value of
fixed-income securities, while
higher rates increase the cost of

strong, with Unisys rising % to
lOVs after receiving three con-
tracts for its computer systems,
software and semce. It also got
a lift from a buy recommenda-
tion at Lehman Brothers.

In over-the-counter trading,
Intel dropped 1 fe to 6414 after
Compaq Computer said it
might buy microprocessors
from other sources if Intel does
not refrain from practices that
Compaq said promote Intel's
products at the expense of its
customers in the personal com-
puter industry. Compaq slipped

'/* to 35%. (Bloomberg, AP)

NYSE Most Actives

Composite

industrials

Banta

insurance

Rncnce

Trnrnp.

76X57 75*28 75* .40 —4-33
771X3 76S.ES 76X88 —320
781.30 771 L16 779.33 - 028
939.19 *35/18 735.82 —1X8
9SS.11 95628 957.17 —1.42
731.13 725.14 725.14 —5.70

VOL

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45S.1I 45X13

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4$5J)6 +037

9X51

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197480 +2388
oS 1*85X0 194X00 1WS1 +2100

Nav N.T. N.T. N.T. UndL

Dec 2001X0 197J80 + £W

MW NX NX 2031X0 +JX50

M N.T. N.T. 202480 +2380

Eel. volume: 21851. 0»«n Ink; 58897.
Sources: Main. Associated Press,
London inti Financial Futures Exchange,
inrt Petroleum Exchange.

NTOLBuys Uslico in Stock Swap

Esl volume: 169,974. Open mt.: 54X766.
3+60 NTH EURODOLLARS (LIFFE)

St rofllton - pts of 190 pet

Dividends

, Dow Jonos Bond Averages

Sea

9X94

94*3

9X92

Dec

9X34

9X24

*434

Mar

«U8

*U8

*188

Jan

mi

9151

9152

See

H.T.

N.T.

*121

Par Amt
IRREGULAR

Est. volume: 445. Open Ini.: 6884.

loummea
10 industrials

NASDAQ Most Active

NYSE Diary

British Rate Increase
Puts Pound in Favor

Intel

Cirrus

Mlcsfls

MO

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11*4 12
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i New Lows

7*6 584

1405 1*35

744 *30

2895 2549

32 31

71 *3

MMONTH EUROMARK5 (LIFFE)
DM} mlDlan - pts of IM act

So»

9X9*

9X9*

94*8

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9481

9X77

9X79

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9X43

9X38

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9437

9X00

9X04

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93JJ

9368

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93.46

913*

9144

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9125

9X18

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9100

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9275

92X0

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9X55

9X99

Mar

9X40

9X27

9261

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9X28

9X2S

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FM AstvIncGrw - .

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LNH REIT - ■

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t-29 12-1
15-27 12-6

Global Ra2 fori spW.

REGULAR

i £

M 8875

MINNEAPOLIS (Bloomberg) — NWNL Cos. said Monday it
T»vd agreed to buy the insurance company Uslico Corp. for about
$237 millio n in stock. _

NWNL, a life and health insurer, said the purchase of Uslico
would strengthen its ann uity business and sales of insurance-
through employers.

The agreement calls for Uslico shareholders to receive 0.69
shares of NWNL common stock for each share of Uslico common ^
stock. Uslioo win also pay its stockholders a cash distribution of t .
50 cents for each share.

3-MONTH PIBOR (MATIF)
P F5 mMton - oil of 100 pet

1 AMEX Drary

Advanced

Dedined

AMEX Most Actives

TofoMssues
NewHwtra
New Lows

243 226
311 380
251 115
805 82T

9487 9484 9486 —081

93J9 9383 9157 — 081

9X44 9X40 9X43 —082

93.14 9387 7X09 —082

9284 9X79 9X82 — 081

9X61 9X54 9X58 —081

9X42 9286 9241 UndL

9X25 9X18 9282 Onch.

Est. volume: 3482a Open Int: 198811

LONG GILT (LIFFK)
tSMOf • PfS & 32ntis Of 190 pet
Sep 100-21 99-26 100-19 + 0-19

Dec 10WJS 98-29 99-31 +D25

Mar N.T. N.T. 99-11 +0-25

Est. volume; F78C Open lot.: 7U4&
GERMAN GOVERNMENT BUND (LJFFE)
DM 230500 • Pis Of 100 pet
Dec 8788 8883 8980 +029

Mar B&2S B7J0 B88S +029

Est. volume: 106886. Open mtj 145896.
18-YEAR FRENCH GOV. BONDS IMATIF)

Compiled by Our Staff From Dispatches

NEW YORK — The dollar
fell to an eight-week low against
the pound after a rise in British
interest rates boosted sterling
against the world's major cur-
rencies. The U.S. currency rose
against the Deutsche mark,
however, before the release
Tuesday of U.S. inflation data.

“Everyone's attention was on
the pound," said Sudir Patel.

Foreign Exchange

foreign-exchange manager at
Nations Bank of Texas in
Houston. “The rate increase
was kind of a surprise."

Britain's rate increase fueled
speculation that rates will rise
across Europe after declining
for two years. Such speculation
started last month when Swe-
den and Italy raised their inter-
est rates. Unlike Britain, Swe-
den and Italy raised rates
mostly to bolster their belea-
guered currencies.

The pound rose to $1.5705
from $1.5525 on Friday. The
dollar rose to 1.54 34 Deutsche
marks from 1.5374 DM, but it

slipped to 99.15 yen from 99.18
yen. The market also watched
whether the United States and
Japan would be able to resolve
their differences on trade.

Many traders and analysts
had expected the dollar to rally
this year as interest rates fell in
Europe and rose in the United
States, making doUar-denomi-
nated deposits more attractive.

The dollar slumped instead
as concern about inflation sent
U.S. stocks and bonds into a
tailspin. That chased many for-
eign buyers out of the U.S. mar-
ket. dampening their demand
for dollars. With rates rising in
Europe, the dollar's prospects
are even dimmer, traders said.

The dollar's gains against the
mark probably will evaporate if
the U.S. consumer price report
shows that inflation is acceler-
ating, traders and analysts said.

The dollar strengthened
against most other major cur-
rencies, rising to 5.2845 French
francs from 5.2655 francs, and
rising to 1.2867 Swiss francs
Trom 1.2807 francs. (Bloomberg,
AFP. Knight-Ridder)

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NASDAQ Diary

Advanced

□odttv-d

Unchanged
Total issues
NewHtohs
New Lows

1410 1433

1712 1760

1961 1891

5083 506-1

S3 IS

57 53

1W 11-2!
9-19 IN
9-15 9-31
9-15 9-3C
9-15 9-3C
9-13 9-S
9-15 9*
9-15 M0
9-19 9-31
M M2
9-9 9-K
9-9 9 -Y.
*■* 9-12
9-9 9-12
9-20 10-1
9-1* 9-29

58

9-23 ID-7

9- 19 10-1

10- 12 10-25
12-14 12-27

'Shadow Fed’ Ig Sanguine on Rates

WASHINGTON, (Bloomberg) — The Federal Reserve System
may not n c?d to raise interest rates further to prevent an imp end-
ing spurt of price increases, a group of Fed-watching analysts said

“A cumula tive impact of Federal Reserve actions in 1994 has
lowered base growth to a more appropriate range.’* the Shadow
Open Market Committee said. The private panel has no official
standing, but its views cany some weight because its members
include former Fed policymakers.

158 Sg

11- 15 11-22

12- 20 12-371

im u-ia
9-30 11-3
9-22 10-15]

The panel's chairman, Allan Meltzer, said the Fed should
“resist the pressure to overreact and throw the economy into a
recession’’ by raising interest rates sharply. He added that while

some modest rate increases might be wise over the next year .as a
way of curbing inflation, the Fed should avoid any targe, abrupt
rate boosts.

FF5na«-rtsafn0pcl

Sep 11220 11188 11X14 +O 112

Dec 11124 11X74 11120 -HU4

Mar 11X40 11024 11054 + 0.14

Jan NX NX HUM +0.12

E*S. volume: 204248. Open Int: 1*1.120.

Spot Commodity

Marfcot Solos

Today

Close

NYSE 2*46*

Amex 1421

Nastiaa itaa

In millions.

CommadBy Today

Aluminum, lb 0712

Cooper dectrdytfc lb 122

iron FOB. ran 21380

LeocLIb 0.40

Silver, troy « 529

Steel (sard), fan 1KL17

Tin. lb NA.

23ncn> 04854

Industrials

High Law Last Settle C*9e
OASOIL (IPE)

US. dMIara per metric tea+ots of 189 tens
Oct 15480 15233 15100 15125 —123

Nov 15625 75525 75600 15600 —130

DOC 15980 7 5880 15825 15825 —1.50

Jan 16000 1592S 15723 13935 —ISO

Collin ofTerlng* a f srcnrliles. flasdnl
icr*icts or ins stats Is cal ante pettosbad in
this ncw i piper tre uc unban ml is eouia
j a inSoian ■ wbicb Re bikasdoed HenU
Tribeoe is diHribieed. incising the Us bed
Suics or Aaerics. sad do not const! is tc
oflbtejs of aecsddes, navka or bneos in
Ibesc joradioiaas. The [ntaantioaal Herald
Tribune macs no fopo n riMiiy v batiucva
Sxesfmhaiisaaaafbro/binpofa^tMxS.

Time and Newhonse Join Forces

NEW YORK (AP) — Time Warner Inc., Advance Publications
and Newhouse Broadcasting Corp. announced Monday the for-
mation of a joint venture that will combine cable television
holdings owned by the companies.

The venture trill include all the franchises owned by Advance
and Newhouse, serving 1.4 mini on customers, and Time Warner
systems serving 2.8 milli on customers. lime Warner, the second-

tylhli'

Savoy Ousts Shepard, Gearing Way lor Forte

largest U.S. cable operator, will own two-thirds of the venture,
while Advance and Newhouse, affiliated companies owned by the
Newhouse family, will own one-third

W— k i n d Box Offlo*

Bloomberg Businas News

LONDON — Giles Shepard, the manag-
ing director of Savoy Hotel PLC who has
fought for years to prevent the takeover of
the exclusive hold company by Forte PLC,
has been forced to rerign because of dis-
agreements over the company's future.

“Over the past few months, discussions
have taken place between our major share-
holders regarding the future of the compa-
ny, its management and organization,"
Mr. Shepard said. “I have not found my-
self able to concur with what is proposed

Accordingly, I have been asked to resign."

Forte’s 13-year battle for control of
some of the world's most famous hotels
moved a step closer to success with the
removal of Mr. Shepard
Analysts said it would cost Forte about
£100 million ($155 million) to buy all the
outstanding shares and get complete con-
trol of Savoy.,

The Savoy board is scheduled to meet

The Savoy board is scheduled to meet
Tuesday and an announcement on the fu-
ture of the company is expected to accom-

pany first-half results when they are re-
leased on Wednesday.

Forte holds 69.66 percent of Savoy's.
class-A shares and 12.63 percent of its
class-B shares. But it has only 42.12 per-
cent of the voting rights in the company.

In the late 1980s, Forte made an unsuc-
cessful takeover bid for Savoy, and in 1989
agreed not to buy any stock for five years.
It also agreed to give a year's notice of any
intention to launch a bid Whether the
agreement is legally binding is open to
question, analysts said

The Associated Press

LOS ANGELES — “Forrest Gump" dominated the U. S. box
office with a gross of $7 million over the weekend- Following are
the Top 10 moneymakers, based on Friday ticket sales and
estimated sales for Saturday and Sunday. .

l.'FtmtiGump'

X "Natural Bom KUtan'

3. "dear and Prmnt Danger"

4. -n»Mask-

i Trial By Jury*

*. "MUk Money" ........ - , ,

7. The Nest Karate KhT
ITrwUej'

9. "Corrtna, Corrlna"

U. The Lion KMa-

(Poramouml
(Warner Brothers}

I Paramount )

(New Uae Cinema)
(Warner Brothers)
(Paramount)

(Cohtmblo)

( Tw ent i eth Century-Fax)
(New Une Oneme)
(WotlDlsner)

*7 million
. 15 mllHan

S4£mlinon
3X1 million
1X9 million
. P3 mUI loti
JX&TnKIlcn
3X1 million
SMS million
*U million

WORLD STOCK

U.S. FUTURES

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Amsterdam

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260 240

139 137

117 118

118 118

4450 43

118 115
147 147
134 133

429 427

104 103

143 142

Toronto

111 JU195 353 Vj X59W XB

X63V, 156*,Sep9S 380 380 160 380 mraVi 15

172V, 355 Dec 95 386V> 55* 386** 38916 * 0XCFA 53

Est SOWS NA. Frrs. ides 13277

Frrsoawihit 71J40 up 147

WHEAT (KBOT) S8aeeum6wmm-ao*arspwtwM

386 107k,see« 385 386 184V. ISSVi *004 U7

165*6 112ViClec94 192V, 199 1«V. 3.97V, ♦Offi’A 25.M5

197'* 325 Mar 95 3.96V, 483 X96Vi 48! *08599 9885

383 381V, MOV 95 146V* IB 186 IB *085 B02

384 314 Vi Ail 95 35B 382Vi 357 iiOV, *D83’A 1265

159 329 SepH 24T -Iftcj 15

166 UfaSgtj 383 * 083 1

Esl sales NA Frl’s. sales 6270

Frl’sope ninl 3 8590

CORN ICBOTl SJMBuirMrnum-MorvDwOiijrwl ,

6 * 0834* I.9C7

316 ♦082 1 * X1I9
0 HLQTVi 15
9*6 HUffA 53

im55flp94 1345 1245 1^

1041 DecW 1360 1362 1330

1077 Mar 95 I39S 1«2 1378

1071 May 95 1473 1421 1407

1725 8495 1462 1412 108

1447 Sep 95
1290 Dec 95
1350 McrM

BRITISH POUND fC MfW spwmnd- 1 bow wjuBUSOOI
187*4 1.4440 Sep 94 JjfflO 1^36 18*0 1J774 *190 30^2

18760 1 ASM DtC 94 15S10 18704 1-550! 18684 >17*1X722

18470 18341 -Ml 95 T8670 _ 18604 *156 1

18720 1.4640 Mar 96 18*50 18*70 18420 18654 tie* 18*

Est. sates 34,080 F»Vs. sates 30429

AbtMW Price
Aon Ico Eoote
Air Canada
ARjerta Enerav

AmerBarrlCk 3395

Bk Nova Scotia

BC Telecomm !+**

Attaj^mrWM^. >15X90

Hong Kong

Rank Org
RecklttCol

RSMHMSV 1

Brussels

AG Fin

AlmanJI

A rtied

Bar co

BBL

Bekoen

CBR

CmO

CNP

Cockerill

Cobopo

Colruyt

Detbalze

Electrabet

Electrallna

GIB

GBL

Gcvnert

Gioverbel

KretiletboRk

Mosene

Pelroflra

Powerful

Rcciicm .

Royal* Be let
SocGen Bartaue
Sac Gen Belaiaue
Soflna

Sotvay

Tessenderlo

Troctebel

UCB

Union MhUcre
wasans Lit*

^2s 5 !^iS tx;

Reed inti
Reuters
RMC Group
Rolls Rare*
R a t h mn (unit)
Ravel Soot
Rtz

Salnsbury
ScotNewcas
Soof Power
Sears

Severn Trent

Shtu

Slebe

Smith Nephew
SmithKIlite B
Smith (WH)
Sun Allkmce
Tate & Lvle
Tesco
Thom EMI

Csrmlour

i £c>.

Cerus
Ctwroews
1 aments Franc

CJubNted
EIFAauRalne
Euro Disney
GetvEaux

I metal

Latarae Ceapea

Leorond

Lvan.Eaux

Oreal (L'l
L-VJWLH.
Matro-Hechetta
Michel In B
Moulinex
parfbea
Pechiney Inti
Pemoti-Rteard
I Pauaeat
Plnauh Print
Radiatecnnique
Rh- Poulenc A
Rod. St. Louts
Sancfl

Saint Goba In
Sf-B.

Ste Gertercri*

TSB Group
Unilever
UM Biscuits
Vodafone
War Loan its
WWicome
VvMtbread
Williams Hdas
WlHisCarroan
F.T.saMex :

2^SS5 :3mj8

Thorraon-C5F
Total
llAP.

VOteO
CACjWtatiMt: W66J9

mvieM.-tMXj

Sydney

Amcor 9.14 980

AN2 886 383

BMP 19.90 20.12

Serai 3.16 125

Bramalea 485

Brurawlck 10*5

CAE 71k

Camdev 480

CIBC 31 ?k 32

Cdn PacHIc Ltd 23tb 2346

Canadian Tire A IVk 119k

Confor 19b 20

Cara 380 385

C CL IndB F» FW

aneotox 485 4.95

Cominco 23V. 23Vi

Convmst Exp( 24

CSA Mat A 10VI

Dofasca 22 *

Dries A CLB2

Echo Bay Mines 18*9

Eautty Silver A 078

KAMI 4

Fed IndA
Fletcher Chau A

m

Gertra
GuK CdaRes
Haas inti
Hernia GW Mines
Hollinoer

Est sales ,6802 Frrs. sdtes 6427
Fry s open W H«j*i ail

—16 4XZ70
— 13 13423
—15 3,ra
-15 2839
-13 1806
—15 48D
—15 14S7
-15 1*5

Fri’s ocen Int 41231 up 17*7

CANADIAN DOLLAR (CMBU 1PM*-1 BoWwmoAWXeW.

CANADIAN DOLLAR (CMBU 1PM*-1 Hkyaoute
07740 07068 Sep 94 07325 07327 07309 07312

07*70 0703* DOC 94 07295 07314 07295 07299

07405 0.7020 Md 95 07300 07300 07281 072B3

07522 0.6990 Jun 95 07275 87277 07284 0.7260

07250 0.6963 Sep 95 0JMJ 07248 07340 0.7231

DJIK 0704DDSC95 072117 07270 07270 0.7301

Esl soles KLA. Frrs-sates 27771
FrfsapenM 51817 off 22*3

♦4 34J4F
• 525790
*6 1835
*» «1
• 11 2*9

HI 33

ORANGEJUKE CNCDfl iMonnt-cw*.DW»
□480 SI I a 5*0 *4_ fljO 84.10 83J0

i4? *0O
148 *om

□480 85.00 NOV *4 8780 BS80 8670

□280 B9 .008*195 «L90 9270 9070

12475 9100 Mor 95 9480 96.10 9650

11675 973DMOV95 10080 10080 9975

119.00 10080X495

11140 1 09.00 NW 95

Jan 96

11X50 KKLSOSeP 96

Ed. sales 1800 FfTv sates 1841

R11 Open Inf 2X459 up 2100

♦ 085 121

*090 11741

♦ 180 SJ74

*•170 3811
-075 880

—075

—175 311

— 1X5

-075 16

GERMAN MARK (CMSU iprrnn*- 1 MtetmuatesAOOOl
085*5 08OTStP«4 0805 08515 0*474 08486 —15 86832

0860* 05590 Dec 94 08502 08520 08475 08437 —14 4X463

08595 (159® Jun 95 - 07.504 — U 102

08450 08347 Sen 95 Mil] —12 *

08595 08S1«MarM 08505 08505 08417 0*495 —1* X187

Est.&Ole* NA. FrPv sates 7BJ63
Fi+sapenlni 13X093 up 1569

NYSE

CI4M,

JAPANESE YEN ICMg) sow wn- 1 PcmtwmvnOMMOl

Bjnotmomaseo w OMTSiosmonauimrSLoioon * 15 sum

081049C0809S25Dw:W 0810165081019008101*10810164 *15 71.332

081 0*700.00977 6Jun *5 Ql01032S0J>10330OD1032S1010330 >17 274

OJ7ia77SLOI020aSeP 95 08 104 14 *18 50

0jn03«lL»(796e0Mar 9* 08102520.01 02550.0102420810241 *16 1849

ESI. soles NJL Fri-s. sates 34j«

2.9T6 X14 Sep 94 222 275 271 W X8IH *UBW 78K

277 XI 7 Dec 94 273 12714 122 276*6+082*6132821

2J2*5 224 Altar *5 130'A 2-36 V, 230* 2741* *082*6 32776

185 232t*jMav95 237*6 142V, 277*6 242V, +08H6 128M

115V, 276 Vi Ju 1 95 282<* X47 X42 286*6 *08234 1X493

270*4 27? Sep 95 285*1 X4S 275N, 148 +08I I 4 9S

283 27SV,Dec9S 28* 251*k 281 LSI 1 * *08136 4,192

SB# 1ST MM 2*1*4 >100# Si

Est. sales na FrYs. sates 5X245
Ffl't open Im 703JB9 up 11*7

SOYBEANS (CBOT) 5800bumliii(nwn-daewiMraus>wl _

788V, 580V: Sep *4 S75 508 574 S87 *08136 4882

Metals

57* Aug 95
577 S*»95

*71 470 849*

EsJ.wSe*. NA.FtYS.smte 19787
FrVsooenir* 122811 off 112

588

5J4

587 +601 M

4X82

1(1

561

sxn* •OJMta 7*694

IfflW

171

588 +0X4M 1X182

588

580

SSFh +0X51*

76U

4XBVI *001

25*

XOTVj •0X3Y>

617

XOI

617 *003#

3J9f

628 + 0X1

1

HiatAoecoim« (ncm»

11980 74J0SeP»4 11*75

114.15 7 175 DecW 11580

11580 74 90 JOT 95 1167S

114.10 7380 Feb 95 11580

11440 7380 Mar *1 11195

114J0 7685 May 95 11250

11X40 7080 Jul 95 11280

111.10 79. 10 Sep 95 1I1J0

1 1470 71200095 11600

11650 77 75 Ha* 95 11680

11575 0880 Dec 75 11X30

10880 BU0JOT94

10860 4270 Mar 9* 10970

11220 .5.10 Apr 9* 11120
10850 10820 Mar 96
71X15 r olio Jun »* 11 x 10

35**

Est. sales 1X000 Fri'vsatas 8497

■ r

♦225 5843
*180 35435
*120

+180 30

+170 1508
*180 1,172
+185 975

+ 095 696

♦180 1435
+ 1-95 «74

+ 075
+ 075
+075

*185 233

+ 075

♦ 185 155

♦ 075

♦ 180

Pit'smnint 75814 up 2134
SWISS FRANC (CMBt) SBtreane-iPoweauoBteoooi
07125 06600 5ep *4 07119 0J823 07770 07779 -30 33800

O7B50 04185 Dec 94 07828 07837 07790 0779* —30 18873

07*80 0746* Jun *5 07845 -3 1?

07145 0700 Mar 96 07*50 02850 07818 07831 -38 M

Ed.sates.NA. Frf's-Mtes X9S7
Frlsopenvit 51434 up 5696

Industrials

SOYBEAN MEAL (CBOT) MO tom- mean Mr tei

21000 l7O60Eep94 17180 17380 169.90 17X70 *030 5,913

Fri'S open W 5X082 UP 637*0
SILVER (NCMX) 580DMvae.-antepw*ovoi
*158 4938 Sep 94 5488 5498 S4L5

5448 51UOd»4

Nov 94

S978 3808 Dec 94 5560 5555 5*98

5648 018 Jan 95

6060 416JMU-95 54X0 5465 5578

6U6J 41B8MCV 95 54*8 5498 5458

6108 4208 JJ 95 .

5*48 53XSS9P7S ^30-ff 5000 SBOLO

6288 5398 Dec 95 5908 5908 5*88

6128 5758 JOT 96

6188 5548 Mot 96

5878 5*7 8 May 96

JUJ96

EsLSries 12800 Fn’». sates 28J75
Fnsapenlnt 106,119 up 86257
PLATWUM WMBU snm.atnprra

435.40 3660000 94 471 JO 47X50 416JD

43580 37480 JOT 95 42650 43X50 42080

43980 39080Aor95 43180 <31 JO 42980

43480 41980 Jul 95 43580 43 WO 47080

431 JO 42X000095
Est.sdes 2873 Frrvsates 3J2*
FrTsopenlnr 25*703 up 624
GOLD (NCMX) UOtrareL-dMmpWBeviB.
41780 3*4800094 39X50 39380 3*170

Nov 94

426J0 3G80DKM 395J0 39SJO 39660
41180 36X50 Feb 95 39920 39920 39880
41780 36450 Apr 95 «280 «H80 40180
40sj ° asja

4I2J0 38050 Aua 95

45X30 4018000 95

42980 6KLMDec9S 41*80 41*80 41480
42450 41250 Feb 96
43080 41*20 Aar Vk
43080 <1380 Jun 96

Madrid

Frankfurt

14850 J70M
>1131450
2441 2480
670 480

94S *52
331-3033660
34850 375

412 417

447 451

704 714

3*5J03*7i0

810 824

323 329

238 340!

Johannesburg

AECI

Attach

Anglo Amor
Barlows
Blyvoor
Buffets
□0 Been

Qrlafonletn
Gencor
GFSA
Harmony
Hlohveld Sleet
' KlOOf

NadtxmkGro
^ondtomein
TIusplaf
SA Brows
St Helena
Sasal

Western Deep

BBV 3070 30*5

Bat Central Htsa. 2665 2715
Banco Santander 5120 5260

Sao Paulo

Banco do Brasil

Banesta IOI0 1015

CEPSA 3190 3175

Draoodos 2025 2100

Endesa 5280 5530

Ercros 159 154

Iberdrola 824 SSI

RePMl AMS 4135

Tobacalera 31 4o 3265

Teletan lea 1*40 17*0

K*sMr ! “

Brahma

Cemtp

■ tat no w—

London

Brit Airways
Bril Gas
Bril Steel
Bril Telacom

Ughl

Poranqponema
Pctrobrns
Soma Cruz
Ttiebras
Tetesa
Usiminas

W 060 "

Singapore

Asia Poc Brow

Cerrtos .

aty Devetonmnl

Cvde&Camooe

DB3

□bs Land

Ffi Levtnaston

JtsRsno Shto/ard
Kay HKmJGaaei

Akd Eject r
Asatu Chemical
Ajohl Glass
BOTkOt TMCVO
Brldoestane

Hudson's Bay Ca

imascs

Inca

1 PL Energy
Janrwck
Laban Uaftn)
Lcbtaw Cas
Mackenzie
Magna inti A
Moote Leaf Fds
MarWlme
Mark Res
Matron a
N oma IndA
Noronda Inc

20750 169J0QCJ94 16980 17X60 1*180 17X20 1X644

209.00 169 50 DeC 94 16980 17150 16480 17150 +080 36,979

50750 17X70 Jon 95 16950 17X60 16980 17250 *X« 8891

2D750 17X83 MCT 95 17X50 17570 17250 17570 +0J0 483

70780 17480 MOV ?S 17480 17670 17480 17680 4JI*

20680 17580 Jul 45 17650 17950 17650 177.10 *080 X730

ISX60 f '480 Aua « 17880 17980 17780 >7*80 *030 228

182JO 17650 Sep W 17850 17*80 17870 17U0 —050 1*4

Od 95 1B1 80 1

18280 1*280 Dec 95 1(180 —180 2

EsLSteK NA. Fri’s. sales 22843
Fri's ocen ira 79793 afl I01S
SOYBEAN OIL (CBOT) MAoata-dMtenpwUOlw.

3074 2X40 SCO ft 2488 26.70 2555 2659 + 051 5773

2954 2X1000 94 2X72 2X47 2£^ 1653 +X« j6^

Noram Enersry
Ntrwrn Telecom
Nova Corp
Oshava Group A
P em u r la n A
Plocer Dome 32H 32V8
Poco Pelroieum 9 9

PWACoro 0% Ota

Royreck 17V2 1714

Renaissance Eny 2Sta 2810
Rogers Comm B 211b 22ta
Rothmans 77 78

RovoJ Bcnk Cda 28** 28 W
Sceptre Res 11 live.

5eoJT* HMP a 8

Seagram Co 42ta <2V!
Sears Canada 716 8

Shell Canada A 41V, 411%
Sherrttt nta

SHLSvstemhse 7 7

SOUlham 16VS 14ta

soar Aenosooc# uv. ms

Stelcn Inc A Ota Ota

Talisman Eny 30W 30ta

Teek B 25V. 2SVi

Thomson Corp 14% W»
Tar Dam Bank 20 vs 20ta
Torstar B 241* 24ta

Tronsthta Carp 14ta 14 VS
TransCda Pipe 17ta 171b
Triton Fins A 4 4

Tiirnoc _ 1510 1514

Unicarp Energy 155 155

usair

7855 2X65 Jan 95 2582 2585 2582 2553 +X49 S.9T0

2830 3X93 MOT +5 5471 JS50 24J0 2X43 *DJI 7514

2883 22 93 Mar 9J zjm 2520 2440 2573 -082 4.137

1785 2380 Ait 95 2455 24.95 2450 1492 +089 X3«

2750 2X95*09 95 2480 3455 2480 24J1 +083 S13

2475 2X95 Sep 95 24)0 2450 2410 2447 +08* 71

2110 2X10Od9S 2485 +080 1

2X75 22J0DBC95 3195 *030 3

Esi. sates NA. FK-x sates 16828

Frrsapenlni (BAR up Ml

Livestock

CATTLE (CMER1 40Mbx-opdiP«rte
7410 6X7UOCTW 7095 7IJ0 BJ&

7430 6780 Dec 94 *.90 7025 6882

74J25 6780 F<* 95 6485 6465 67 JO

7X10 69. 40 Apr 9} 46.93 70.15 BZ

SfJO 4680 Jun 95 4685 678S 6685

*410 64A0AUO9S «AJ0 6680 65.95

67 J5 66. 90 Od 95 6680 6780 4660

EsLKdte 148*9 RTxscTOS 11851
Fri's open Int 74,169 eft 7B
WBUER CATTLE (CMER) naota-ami

_0J5 3X010
—063 1X541
-080 116*6
— X5B 7.9*2
— 060 1.9J6
-087 *13

S9J10d*4 7X30 7X30 71J5

598BDK94 7X90 7180 7081

6XW Marta 7X10 7115 7180

6400 May 95 7X15 73.15 7280

6980 Art 95 73JD 7383 7X50

6680 Od 95 7080 7080 7X30

7280 4685 Dec 95 6980 6960 *980

Est. safes ,4000 W'xsoies 4881
Fri’s open Int 4987* elf 12*51

7187 -+X33' 1294

70*3 — 0802*80*

7184 —064 9830

7X82 -063 4,WS

7X52 — 081 X494
7047 —083 412

085 -012 1836

_ *W) <uonl.aaHr

*4800094 4985 4985 4980

4400NOV94 5X35 5080 5X00

4680 Dec 94 5185 5180 5T85

«85 JOT 95 5X15 5X42 5185

47.95 FeO 95 5280 5260 5X30

4780 MOT 95 5X00 SLH) 51.90
41Q5 Apr 95 5180 5180 5185

47.00MOV9S 5060 50*0 5030

4*7* Junta
4785 Jul *5
4280 AM *5

•JSSepgS Slta 5185 81.95
Od « SX90 5B80 5X90

SX4Q06C9S
5080 JanSA
5980 Feb 96
MTO 5490 Mar 96
B.so» awtWisoto 18871
Fri’s open Int 1 *3885 alt 1*47
LIGHT 5WKT CRUDE (NMER) uroatt-d
W65 08 94 I7J3 1760 1785

1*83 Nov 9* 1765 17.73 1783

14.93 Dec 94 J7J0 1780 I7J4
IX 15 Jan 9 5 1782 17.94 1782

nx ux
IfgMOTfS 17.94 17.98 17.90

1583 Apr *5_ 1782 17.18 17.92

369 May 93 I7.J5 1X05 17.95

15.73 Jun 95 1789 1X04 1789

1685 All 95 1X03 1883 1X03

14.I4AMB 7X05 1X15 1X05

IMrSep « 1X04 TB.Q7 1X04

1*4200 95 1X14 1X14 1X14

<7.15 NOV 93 JX14 1X16 1X16

'*»D+Ct5 1X03 7X1* 1X05

1783 JOT 96 1X30 1880 1X20

116* Feb 96
17.15MOT 96
1782 Jun«

-ifl 8X775
-18

-38 X99I
-38 4^76
-38 3650

—090 9620
-090

— X90 9X7*2

—090 94742
—090 736*7
—0.90 6.794
— 0J0 106*8
-090 5694
—0.90

-aw 5616

— 090 1,957

EsLSOtes 20000 Fri's.

Frrsopen Int 16*663 up 724108

Financial

— ajo 3*89
—099 19,»«
-036 37857

-0.14 2X057

— 4L2B 1X3*7

-an 9606

— 081 X»1

*009 5.951
♦089 <609

• 089

• 089 I <C6

• 089 373

• 118* 36

♦08* 2609

089 1

089 J

• X09 1

7*80 7A30 5*0 44 7490 7585 7X7J

8185 76.95 Od 94 74J0 7490 73J0

8880 72^)NPv94 7685 76.15 7480

■0.95 7X95 JOT 95 7543 7565 7483

025 7X55 Mar 95 7480 7*87 7X20

7X90 7365 4er 95 7X70 7X70 7290

7X30 7X25 May 9 S 7XS5 7320 7X55

7385 72.90 AuB 95 7765 7100 7223

Ed. sates lJCil Fri's, sto I.M4
Frrsimnirt *813 all 19
HOGS (CMER) «Mte..«rttM>»

-867 1.919

-085 X2S

n ftn " vsn

law ra

—060 233

-035 Z®

Ess.sten 8X293 Fri’s. saUn 107646
FrTs open int _3H.9S mt 91930

ID GASOLINE (NMER)

jr.TV mooa «* 4760 47.95 678*

5560 4X75 Nov *4 4780 47.70 4720

3080 Dec 94 3425 5*80

5080 Jot 95 5X55 5X70

si. H5 foots sub sox sx?o

— 0.14 78,917
-0.11 7X6*5
-086 5B632
-O.ra 34.751

— 0.01 20JD9-

081 14849

082 9807
002 10+338

»641

083 7806
1 082

+ 003 78*7

BM X264
083 1758
+0.06 U62]
+087 2.9B
087 384

QJJJ

+ Q3P M,M0

67 17 -4385 2760
4760 —023 ISjfl

5465 +X17 9615

5365 +087 5881

5X10 X576

5J90 7U

5785

~S. +X10
8 +X10

o <ai|

Markets Closed
The Zurich stock
market was closed
Friday fora holiday.

SJS J79S0et« 3X63 3885 o

5020 39.05 Dec 94 SJS 3920 3987

5080 3XWF0D9S 39.90 39.95 3972

4X80 3XB50OT95 7025 30J5 37.15

47 JO 4X75 Jot 95 *637 4485 4427

4580 4175 JM 95

<L« 4X7BAUU95

4020 39.10 Od 95

41X0 4080 DOC 95

Esl sates *274 Frl’s. sate* X033

Fri'jopenl* 288*9 UP 20*

PORK BELLI E5 (CM©!)

(0.05 41 80 Feb 95 4285 4X00 4180

M80 4082 Mar 95 4X75 4283 41.15

61.13 0.00 MOV 95 4XH 4X15 4X83

5480 4X»Ju195 4X90 *405 4XC0

4480 4285 AuB 95

EsLSdes X714 Frt'x sda 180
FrTs spenlm 7.906 up 1

-822

— OJK 1tL^6

-am UK

—tun

-aas 6*4
—082 182
— (LOS M

-485 4

—180 7JJP

—165 M
-185 125

-080 30

For investment
Inf or mati o n
Read

the MONEY REPORT
every Saturday
in the 1HT

2JFFEEC (N
74 HO 6150
MX25 77.10
’4X00 7&90

CSE)

SCO 94 ;

Dee 04 2
Mot *5 z

alio am

JW« E

sroos a

4X00 8180

Dec« a

4638 of

UGAR-WOttLD >1 (NC

260 439

X« 9.17

X3J 1087

oerw l
Mot *5 l
Moves i

XII 115

Jut *5 1

700 10 57

0095 1

5X40

5X50 oats

AUBM

Est. rotes 20805 FWisdte S3 , 047
Fri's open »tt 4X495 up 42232

55J0 t

565 +

3X22 . *082 202

J4J0 *ftli

Stock Indexes

Hf CDNP.mDB(,«aAEn m«w»

48X20 436.7550094 467 JO 66*60- J8565r

48X20 434.75 SOP *4 4*720 6*880- 84X45 7 BlUf <-*440 HUflf

407.10 42*20 DOC *( 4 085 «7a» 467 JO *6?^ — 2 JD 1 SOT

414.10 14165MOT9S 47480 47486. ’47BJ0. BUS — X*5 *621"

«7J0 45180 Jutl 94 477.0ft 477JO- 4W80 47429 —133 1,900-

SA*** NA- Fi+xroteJ 140877 _

Sri open int 262899 op 4840 - ^

NYSECOMP.WDBX WWI) pokmrodtante .

24780 241 80 Sep W 25X30 2SX80 2S780 B7.05 —180 XUOr

2*488 237.15 Dec 9* 3SU3 23X70 28880 23X00 — kJO X30*-

3*440 24X58 Mot 95 26X95 21089 25*85 HMi - S ' taf:,

26480 2 5X50 Jun *9 260*0 — 80-'

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INTERNATIONAL HERALD TRIBUNE, TUESDAY, SEPTEMBER 13, 1994

Page 11

EUROPE

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German Airline
Discloses Terms
For Rights Issue

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By Brandon Mitchener

International Herald Tribune

FRANKFURT — Deutsche
Lufthansa AC on Monday an-
nounced the terms of a long-
awaited rights issue and said it
had begun soliciting bids from
international investors in a first
wave of German privatizations.

The German airline disclosed
the terms of the first tranche of
a two- tranche capital increase
that win be followed in the
coming weeks and mo nths by a
bidding war for 5 million shares
worth more than 1 billion Deut-
sche marks ($641 million) from
the government’s hoard

In the rights issue, current
shareholders are being invited
to buy one new share for every
four they already own at a price
of 160 DM, roughly a 20 per-
cent discount from its recent
share price of around 200 DM.

The initial tranche of com-
mon shares is valued at a nomi-
nal 382 millio n DM and will
raise around 12 billion DM.
The "final tranche is expected
early next year.

The federal government,
which owns 51.42 percent of
Lufthansa, will not participate
in the rights issue. Instead it will
sell the 3.9. million shares to
which h is entitled along with
other shares in its possession to
a handpicked group of institu-
tional investors.

Recovery Lifted
Hermes Profit
InFirstHalf

Bloomberg Businas New*
PARIS — Hermfes Inter-
national SCA said Monday
its first-half net profit rose
56 percent, reflecting the
recovery in the luxury
goods business after last
year’s recession.

The luxury-goods maker
said profit was 85.1 million
French francs ($16 mil-
lion), compared with 54.6
million francs in the first
half of 1993. Sales rose 24
percent, to 1.53 billion
francs, with the highest in-
creases in silk and leather
goods, ready-to-wear fash-
ion and watches. .

Hermes shares, which
were first sold to the public
in June 1993, rose to a re-
cord high of 605 francs,
Hennfcs said full-year
sales and operating profit
after financing costs and
before one-time items
should show an improve-
ment over last year.

The federal government
eventually hopes to reduce its
stake in the airline to around 35
percent and set a successful pre-
cedent for the privatization of
the state telecommunications
and railway monopolies.

“The government is keen to
privatize Lufthansa first, but if
they’re successful, it’ll be easier
for them to privatize Telekom as
weO,” said Klaus Hopke, a Ger-
man equities analyst at James
Capel in London, referring to
Deutsche Telekom, the telecom-
mumcatioos company.

Germany will begin to sell
shares in Deutsche Telekom in
1996, but banks, brokers and
would-be investors are already
clamoring for a piece of the ac-
tion. The Telekom sale is ex-
pected to bring in 10 billion
DM to 15 billion DM.

“They have to get Lufthansa
off the ground successfully,"
said Reinhard Winkl er, chair-
man of the specialist brokerage
Rhine Securities Ltd. in Lon-
don. “If s the first privatization
in a long time and every major
privatization of the German
government before has been
very successfuL”

With the help of 27 German
and foreign banks, Lufthansa
has begun soliciting bids from
investors for the privatization
phase.

Lu fthansa wQl be using a
process called book-bull ding to
more or less guarantee a good
response. It is the first time that
book brnldmg is being used in a
German privatization. The op-
eration will not be considered
successful unless the offering is
oversubscribed 150 percent to
200 percent.

Book-building is when a
banking consortium — ■ in this
case led by Dresdner Bank AG
— collects bids from investors
and then allocates new shares
according to a basket of criteria
designed to select the best over-
all partners, preferably inves-
tors offering a long-term com-
mitment to the company in
addition to a good price.

In previous German govern-
ment privatizations, a price was
always announced in advance.

The book-building begins
Sept. 19 and ends Sept 29.
Rainer Rossmann, a corporate
finance specialist -at Dresdner
Bank, said the partial privatiza-
tion would be completed by the
beginning of October.

Investors who miss out this
time will get another chance to
bid next year when the govern-
ment further reduces its stake in
Lufthansa.

The subscription period for
the normal rights issue will be
Sept- 20 to Oct- 4.

Portugues to Press On

Despite Veto, Bank to Pursue Growth

tjial

day

Reuters

LISBON — Banco Comer-
PortuguSs SA said Mon-
lay it would continue to ex-
pand despite a government
decision to veto its hostile bid
for 40 percent rtf Banco Por-
tugues do Atlantic© SA

The bid, valued at about
132 billion escudos (5837 mil-
lion). was the largest takeover
bid ever made in Portugal.

“Nothing has happened to
alter the strategy of the
bank,” Banco Comcrgial’s
chairman, Jorge Jar dim Gon-
calves, said after Finance
Minister Eduardo Catroga
vetoed the transaction over
the weekend.

Mr. Catroga said it would
endanger the objectives of the
government’s privatization
program and could under-
mine the stability of Portu-
gal's financial system.

Mr. Jardim Gonsalves
would not comment on the
government’s action except to
say that Banco Coroen^al still
fell it had made a good offer.

“The minister used his au-
thority to block it after stating

various arguments for doing
so,” he said. “But these argu-
ments in no way diminish the
value of the offer that Banco
Comenpal made."

It was the second time the
government had blocked

'Nothing has
happened to
alter the
strategy
of the
bank.’

Jorge Jardim
Gonsalves, Banco
Comerpal chairman.

Banco Comenjial’s efforts to
expand by buying another
Portuguese bank.

A group of 13 industrial
companies that owns 28.9
percent of Banco PortuguSs
also resisted the Banco Co-
menjdal bid.

Banco Comenjial had of-
fered 3,000 escudos a share
for Banco Portugues, whose

shares plummeted when they
resumed trading Monday al-
ter a monthlong suspension
on the Lisbon stock ex-
change. Banco Portugues
closed at 2^60, down 390.

Last year, the government
rejected Banco Comerpal’s
offer for an SO percent stake
in the state-owned Banco
Pinto & Sotto Mayor.

The government has put
Banco Pinto up for sale again
this year. But Mr. Jardim
Gonsalves said Banco Co-
mer$ial would not make a
second bid for the h ank, be-
cause Antonio Champali-
maud, its former owner, was
also seeking to buy it.

Banco Portugues and
Banco Pinto were national-
ized in the aftermath of Por-
tugal's 1974 revolution,
which ended half a century of
rightist dictatorship.

Banco Comer^iaJ, which
was started in 1985 and now is
20 percent owned by Banco
Central Hispano of Spain, has
expanded rapidly to become
Portugal's fifth-largest bank in
terms of assets and its third-
largest ranked by profit. _

Russia to Upgrade Phones

Rollers

MOSCOW — Russia will launch the first
phase of a $40 billion project to upgrade its
antiquated phone system in early 1995, working
with U S West Inc., Deutsche Telekom and
France Telecom.

The three companies have agreed to invest
$600 million in the first phase of the project,
Alexander Krupnov, first deputy minister for
telecommunications, said Monday.

Russian officials said they expected Western
investors to provide about $14 billion of the total
cost of the project. “The risks for Western inves-
tors are minimal, " Mr. Krupnov said.

The project aims to connect SO Russian cities
with 50,000 kilometers (31,000 miles) of fiber-
optic cable. It would give Russia a modern tele-
communication network and allow the installation
of 20 milli on new telephones within 10 years. Now
only a quarter of Russians have a telephone.

Revenue from the new network would be
shared according to a formula that has yet to be

fixed, Mr. Krupnov said. The share held by West-
ern companies could eventually be 40 percent.

The installation of the first lines could start in
mid- 1995 after a tender for suppliers of telecom-
munication equipment

Russia will not deal with other companies in
the first phase of the project
“It's better that the project will start only with
few big firms and then open up to all big compa-
nies," Mr. Krupnov said.

Nippon Telegraph & Telephone Corp. had of-
fered $500 milli on to participate, while Telecom
Italia SpA and Cable & Wireless PLC also ex-
pressed interest in the project be said.

Russia will invest up to $800 million in the
project initially, providing fixed assets such as
buildings, cables and equipment It also mil
waive licence fees from Western partners for
entering Russia's communications market and
using the existing Russian network.

“We have no spare cash," Mr. Krupnov said.

CS Holding
Withdraws
Its Austrian
Bank Bid

Compiled by 0«r Staff From Dispatches

ZURICH — CS Holding said
Monday it had withdrawn its bid
for a stake in Creditanstalt-
Bankverein, largely because of
political objections in Austria.

While expressing regret at CS
Holding’s decision, Austria's Pi-
nance Ministry said it would
find another investor for the
state-controlled commercial
bank within “a few days.”

The most likely prospect was
thought to be a group led by the
Austrian subsidiary of Assicura-
zioni Generali SpA an Italian
insurer.

A third potential bidder is a
group led by the German insurer
Allianz AG Holding.

CS Holding said “aspects,
predominantly of a political na-
ture, have prevailed” and its of-
fer had been withdrawn in view
of the "opposition from circles
in politics and the economy.”

Shareholders in CS Holding, a
Swiss banking concern that is
the parent of Credit Suisse, wel-
comed the news, sending bearer
shares of CS Holding to 561
Swiss francs (S410). up 6, in a
falling Swiss market.

“It’s very positive for the stock
because it removes a clear dilu-
tion risk.” said Daniel Koenig, a
banking analyst at Pictet & Co.
in Geneva.

The Austrian government said
in October 1993 that it wanted to
sell a large pan of its stake in
Creditanstalt to help reduce its
deficit.

While the Social Democratic
Party of Austria favored CS
Holding’s bid, their conservative
coalition partners supported
what came to be known as an
“Austrian solution” — the bid
led by the Austrian subsidiary of
the Italian insurer and including
Commeizbank AG of Germany
and Banca Commerziale ltd-
liana.

The group has indicated it
wants to buy a stake of 37 per-
cent to 40 percent for about 7.5
billion Austrian schillings ($688
million). (Bloomberg,. Reuters)

Investor’s Europe

Frankfurt. ■

DAX

London
FTSE 100 Index

m inm

1984

TH jTa's"

1994

Exchange

Amsterdam

Index

AEX ••

Monday

Close

411.81

Prav.

Dose

413.19

Change

-0.33

Brussels

Stock Index

7,509.59

7^68.09

-0.78

Frankfurt

DAX

2,154.61

2,185.15

-1.40

Frankfurt

FAZ

B14.64

327.26

-1.53

Helsinki '

HEX ■ •

134183

1,963.30

■1.02

London

Financial Times 30

2,425.90

3.427.00

.0 05

London

FTSE 100

3,12880

3.139.30

-033

Madrid '

General index

298.35

305.18

-2.07

Milan

M1B7EL

10401

10447

■0.44

Paris

CAC40

1,966.79

1,948.83

+0.92

Stockholm

AffaersvaertcJen

1,852.90

1,854.63

-0.09

Vienna

-Stock Index

457.21

462.09

•1.06

Zurich

SBS

Closed

938.20

-

Sources; Reuters, AFP

Iricnunnul Herald Tnftnne

Very briefly:

• Bekaert SA of Belgium, a leading wire maker, said first-half ne:
profit, including one-time items soared to 5.11 billion Belgian
francs ($159 million) from 951 million last year because of cost
cutting and U.S. and European recoveries.

• Bekaert SA chief executive, Karel Vinck, said he would leave his
job by the end of the year amid speculation he will be appointed
managing director of Union Minrere SA a nonferrous metals unit
of Belgian holding company Sod£t6 G£n£rale de Belgique SA.

• Volvo AB, which owns 20 percent of Renault SA the French
carmaker, has approved the opening of Renault’s capital to third
parties, sources said.

• Internationale Nederlanden Groep NV, the biggest Dutch bank-
ing and insurance combine, said it planned to open a bank in
Caracas, Venezuela.

• Bayerische Motoren Werke AG said it would reach a daily
production capacity of 300 vehicles in the United States bv the
end of 1996.

• Spain's Labor Minisuy said the percentage of Spaniards regis-
tered as unemployed with the national employment institute
declined to 16.34 percent in August from 16.53 percent in July

• Air France said its directors would decide Wednesday how much
of its controlling stake in the Meridien hotel chain to sell, the
price, and whether the buyer will be British or French.

• French consumer prices remained stable for the third straight
month in August, according to provisional data released by the
national statistics institute. INSEE. Over the past 12 months,
prices have risen 1.7 percent.

• Alcatel Cable SA of France increased its first-half net profit to

658 million French francs ($123 million), up 16 percent from a
year earlier, the company said. Bleomba jj. afx. afp

Santander Chief Steps Down BRrrAiN: Striking at Inflation With Higher Rates

“ rnntnuml fnvn Pam* 0 mirl «n annnnnnn O thi» rate in- martwc fnr thr* onivramKn

Compiled by Our Staff From Dispatcha

MADRID — Banco Santan-
der SA said Monday that Ro-
drigo Echenique had resigned
as chief executive officer after
six years, one of several man-
agement changes at the bank.

The bank, which gave no rea-
son for the resignation and
made no mention of a possible
successor, said Mr. Echenique
would remain on its executive
committee and that of San-

tander’s merchant bank. Banco
Santander de Negdcios SA

The bank also said Marias
Rodriguez In ci arte had been
named a deputy chairman re-
sponsible for retail banking, hu-
man resources and planning.

The board meeting Monday
also approved the appointment
of Juan Rodriguez Laciane as
director-general for finance,
which covers Banco San-
tander’s lreasuiy and capital

market activities as well as fund
management

Dealers said the changes in
the bank’s treasury and capital
markets had been widely ex-
pected after those divisions
posted large first-half losses.

Ana Patricia Botin, daughter
of the chair man, Emilio Botin,
was named director-general of
Banco Santander.

{Reuters, AFX)

Con tinned from Page 9

economy out of recession
through aggressive rale cuts,
then failed to keep inflation un-
der control until they had no
choice but to raise rates to ex-
tremely high levels. Official in-
terest "rates last peaked at 15
percent in 1989.

“So often in the past, acceler-
ating inflation has prevented us
from enjoying sustained
growth," Kenneth Clarke, the
chancellor of the Exchequer,

said in announcing the rate in-
crease. “I am determined this
will not happen again.”

The rale rise Monday was
criticized by some business
leaders, who said they feared it
had too soon and could, as the
British Chambers of Commerce
put it, “sabotage much of the
gentle recovery we have seen."

With its timing, the increase
seemed intended in part to
build credibility in the financial

markets for the government’s
anti-inflation efforts.

in that sense, it appeared to
be working at least initially.
With investors perhaps more
confident that inflation can be
kept under control, bond prices
rose, sending the yield on the
benchmark 1 5-year govemmen t
bond down by nine basis
points, to 8.69 percent.

See our

Real Estate Marketplace

every Friday

Monday’s Closing

Tables include the nationwide prices up to

the closing on Wafl Street and do not reflect

late trades elsewhere. Via The Associated Press

12 Month

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Page 12

INTERNATIONAL HERALD TRIBUNE, TUESDAY, SEPTEMBER 13, 1994

NASDAQ

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This list compiled by the AP, consists ot the 1.000
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14% lift Aldila 5
28% 23 Alex Bid .88
21 Vi 6*9 AltasR
31* l’VuAUASem
12V. 7V.AI,anPn
19 ?V»Aln5eml
32ft 22ft AllleflGp 49
22% T3ftAlkJHIao
34 V. I Alpftal
35% 7V. AIpnaBla
39”, 31ft AB era
24 W IDhAlsron

HO% mWAB/lkr .72
19% 13VfcAOaaVov .14
33 lDViAColIttt} Si
24 ft lS'-jAmFrgtll
341-4 SS-kAOrwt Ji
2J'.9 SftAHtlhcps
27V. ISftAMS
17’. a 6ftAMedE
33 17‘iAmMBSct
X”, 14ft APWTCv s
»% 72”, Am Sum
37 12% Am TeW

17 V. IQ". ATrovel
16*4 7V. AmerCns
MV. 19'iAmfed ji
57' ■. 34 V. Am^BI

15 5 A muon

33*1 BV.AmfchCp M
1644 llftAnchBep
19ft lO’/j Anchor.

49 19V. Andrews

Jl". 13 Andros
38 W raft Attlee
38 V, 2? AppieC J8
raw n ApTsaos .02

25V, 11 Anlebecs J4
35 lTftApdDgfl
33 14 ABdinotf,

54Vi 28'. 4 ApklMts
71 16 ArtoorOro M

2S UftArborHI
19 ISWArchCm
35V.24V . ArgoGP 1.16

™ 20 1036 M
„ _ 343 19%

3 8 «JS m

Z 30 17® 33%
_ 31 2025 4314

„ _ ra nr*

3.9 ft 613 im
_ 604 30

... 14- 654 2314
_ ... 75 13

11 8533 1414
_ 34 793 18

-. 3011449 19'4i
... 9 19 24%

- 30 B6 IQ'u
AO 8 384 BV.

.. 17 4052 Wft
... .. 5 144.

A 19 64 1th

A 27 4651 31
._ 101 $Vj
„ - 5165 TVi
.6 14 924 2714

a )6 iooo say.

* 57 1781 13%
_ _ 79 13V.

_ _ 338 34k

2J _ 167 616,
„ _ 1973 13%
1J 14 193 351%
23 720 134%
3-5 17 345 24*.
31 989 21%
_ 15 333 31'*.
_ _ 717 9%

._ 24 2679 u ]2' A

2.1 7 <37 »%

_ 8 ■ 16V,

.. _. 1062 IV*
_ ... 377 13W

21 8649 301,

13 30* 10

_ 100 3337 79V.

3.1 9 25 23V»

-B 53 100 19

1.7 19 231 14V1
.. 31 235 74V,

1.9 14 1389 29W

_ 13 375 8%

30 I960 24%
_ 14 533 91%

_ _ 30 166,

- 2712638 IBft

_ _ 135 31
_ _ 43 14*6

_ 12 435 16*i
.. ... 25 9%

1.0 23 1 54 24%
_ 1913551 539,

_ 17 229 7Vj
3 12 1263 1016
_ 10 2313 14%
.. 17 388 1|Vh
„ 31 1183 46V.
_ 10 60 16%
_ 2*4 36V,
IJ 22 8074 3516

13% 13% ■-*
19% 19% — %
16 16 — %
18% 18% *-%
13% 13% - %
32% 33 — %

42% 42% -W
11% 11% * V.
17 17% -%

29% 79% — %
2HW 38% ~

13 13

13% 14
17% IB
18% 19V„ -Vu
24 24 'A —'A

9% 9% — %
7% 0

19% 19%. * Vi*
13% 13% _

36*4 37 — %

30% 31 4 %

5% 5% — %
C% 7

31% 31% —ft
30% 30% »

13 13% _

1116 12% -V,
2 2% -ft

61% 41V, — %
12*4 13% — %
25% 25% -’A
12% 17% *%
25% 25% _

15*6 9%Ariteesi M
22% 16% Armor .64

22% 18 Arnolds JO

24 ft 7 Artltt
13% 7V, Ashvyrltl

<6 74 Aspetrt
34% 22 AsdCmA
33ft?l*iAsdCmS
20' . 11 Asiee _

34*4 ?/’, AsTonaP
38ft2l%A«SeAir 22
30% n Aimels
26% 15% AuBon
9"* 41.AuroSv
12 3%Auspe«

66 37 Autodk M
34% 23% Autolnd
29 v. li'.AuralOlS
35*1 16 AvkfTch

2 38 2220 19V,
.. 588 19%
_ 27 150 18
_ 22 4395 49%
IJ 21 34 90%

= ” ’§ ^
]J 9 334 30V,
_ 99 499 18%

3JJ 19 75 21%

11 18 41 20%

_ 13 4835 12%
_ 21 771 9%

_ 26 153 39%
-12*3 57 25%

-1288 69 25*4

_ 11 . 85 14

U 17 M3 27%

- 78 8229 29%
_ 71 212 17%

- - 314* TV,

- IS 34S S%
A 24 2174 61V:
_ 17 681 26

- 41 6363 19%
_ 29 662 35

34 2BV. BB&T 1.16
35% BV, BHC Fn s .08
141, 16 81 SYS
71 J0V,BMCSIt
30% 12WBMCWM
26*415 BWIP M
29*6 BWBobaoe
22% 1 5% Baker J J>6
24 ID'.BalyGm
33' -. 2916 Ban Pore IJ10
74% 57% BcOne ptCOSO
45% 24% BncGcAc Mr
26*5 18% Bonctec
21V. ITV.BhSoutn S3
38% 31 '.6 Santa 32

3*7 79% 29% 29%
10

i M’-'j 12% BcnvnSv
19 I2%8areft5

7 2%BofTcch
65V. 43 V. BavBkS 130
35", 23 BedBath
28'.* 22’iiBellBCP S JO

15% 7 BtUMie
4*’,18'lBenS«
7% 3%BentOG

29 18%BoofcMni
27 l2%Boomtwn

27 l2%Boomt«n
IB 1 '. 8%Borlnd
25% 14%BostCns
14% 6%BOSlTc
14% 7%BaxEnB
15*., 7’ABriMV
52’ .11 BrdtidTe

21 », 9*6BroGour
16%10V,BrTom
11% 6% Brunos
TT,, 15% Buffets
18*. IT ,Bu8dT

21% 21% ■ Vi
43% 43% *%
17% 18% *Vi
17% 18% *Yt

m« 11% — %

20% 30% — V.
12% 13% *%
32% 32% — %
60% 61% *V6
30% 30% — %
25% 25% — %
18% 18% -
33 33% — %

16% 16% ‘ %
15% 16 — %

17% 19 *1%

rw, !■% *v«
58V, 58% -

27%27>*r« »Vi.
23'.'. 28%

12% 13 +%

19% 20 —’A

6% 6’ Vi, —
36% 36% — %
11% 12 * %
13% 13% — %
11% 11% ..
52% 52% *%
10% 10% — %
2% 2V. — V„

11 11% — %

33V, 33V., .¥*
20% 70% _

27 27% »*

16% 16% *%

12 17V* — V H
20% 70", — V U
12 % 12 % — •*

8% 8% *%
13% 13% — %
16% 17% «%
54 54V*— 2%

13% 13% — %
12% 12% 12% +%
9% 8 Vi 47. — %

18% 17V, 17%—’ Vi.
12% 12% 12% ♦%

Monday’s Closing

Tables include the nationwide prices up to
the closing on Wall Street and do not raflec
Hale trades elsewhere. Via The Associated Press

12 Mgnm
Wgn Low SIQCk

o*v vm pe loot Waft LowUjtttOfa

51 Uu

- 22 430

- - 7

- _ 10

- 16 5

1.75 7.2 ... 9

- 7 251

3 15

a. 1 ** = u

2J7B 4.1 _ 83

- 74 3

«. 100 X

- 11 _ V.

’?% :«
n% — %

24% +%

fit

66 % — %

8% ...
2% —Vi*
14% —Vt
% -
10’/. _
2

BV, _
3% -

In — %

1A39J1A
1.44010.0
1 JO 9.6
.96 8.2
job 4 *
44 3.1

J4 3.1

11% +£
3V, —Vi

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3% — ' ft
8% •%

18*4

56% -%

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10 **•
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12

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25% ...

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12 % -
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18% -
BH, —'u

raw —v.
8% »%

9% 01,5

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svj 5%
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5% jli
6% 6%
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9% BV*

9U -
las, -Va
13% — %
13 — %

5%

ov, ...
10 % _
8% -S
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S% — %
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US._Vu
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117 US,

13 21V, .

■78e U - 97 W,

—.22 ’* *“■-

.73 2J 16

- 23
1.91 e 8J 18

1.88 8.S „
1.90 8 6 _

20‘ * IS *CPX CP 92b ili 14 K 18% 18% 18%

7", 4*601 Pin
8% 7%C1M
9'* 4 >*CAMCd
3% ’’•.CSYEnl
5>> 1 1 *CVD Pin

8 61 5% 5% S*t

1.0 ... 7 7% 7% 7% %

8 91 7% 7% 7% - %

3333 1% 1% HA • V, (

.. _ 69 1% HVu I*.-., — *A

1 16% 10 CAI Wro

i 33% 21%CTEC
10% 4%CAO
32% 25%CodbvS

i ii % SViCoere

1 to iKsse*

1 »% Wi gwie
33iA2a',-.CwimA
9Q’,i59'6Conanl

20 14 V, CorouVr

21 l5%CBreemz
14% 5>Vu Careline
21 % ia%corePir
13V* 9%Ctnen3
25 9>ACaSAm s
36 13%CminoDS
21'/. SViCasMaaic
25 7Y*QntlE 5
19% 8 CamSlr
24% o caocp

21 12 Celodon

34% 13%ce«flal
36%17'ACeUPrti
20% 9'ACeHsltjr
S4V5 40 Cd Cm A
3l%18ViCetOnPP
24% 4%Ce»rTC*
24% 14 C0ntC«l
43 TO Cenlftrm
15% 7%c®ritocor
34V,25%CF!dBfc
1915 8 Cochin
49V, 23%Cemer
36% lBV.Cerwcer
14V* 7%OirmSh
25 17%QtfOnPS
IS 3%OteOwra
34% ISViOiHCV *
19 8 CfwCOS S

- ... 1616

72

IS 356
1 JOe SJ 56
- 641

- - 7772

22 1485

_ 20 450

... 20 Ilia

Jl» A 46 122

J6 2A 16 2050

- - 42

_ _ 3S7

M A 14 1511

- 9 1606

- 22 526

- 11 3928

- 3 376

- 12 461

.16 1.6 13 1458

_ 30 183

60'A3l%OKpcam
7% 3%CnIpsTc
96 5flV.a,ron
21% 6*kChmmli
26% 15 Cdco

6l%S0 OnnFIn
34% 25 omta

IS aviCireon
44%24%Gnrus
40%ia%Cscos

28 lUkCUmeom
21% 13 OubCor
42 25 C-dHUti
SS 25 Cobra
41% 24 CoCOBfl
24% 16 coftexjp
28 11 CaanSRS

14V. 7%C0BnasB
15% 11 Conemt

% 3 J%

B% 9 — i/m

17 19 *2

29 29

16% 16% -
IV* 1% *%
12% 12% —Vi
29% 29V> — %
15% 15% *%
75 75*,— 3%

73 23'-

18% 18 V* _
14 14% — %

24 24 — %

»*fc?9V„

7*1 8% -%
23*6 23% * %
8% 9% * %
16% 16% — %
17% 17% — %
29% 29% —V.
13% 13% — %
16% 16% ..
8% 9V. .%

31% 17 Colcwen
25% !7%ColC*BcO
1*V, 17 comolr

28% M%camc3i&
26 14%CmCSD5
25% 15V.Cammnet

33 77’ACmcBMO
27% 17 , '3CmcJ=dl
l3%CamHlSv
24% 3JV.CompBnc
18% 9’ACmprW.
I'm 2%Cmpo-n

24 llShOnaDato
12% 5%OdNwh
48% 21 comeuwr
16% 8 Comver*

9*6 2%CcdCam
29 ’A USiCoocEES
15% 5 CorKjfW
23% 13 Contia
22% 14% CooriB

53%211'iCooleyPfi
14% 3%Coovtel
18 9 CorTtwr

23’A U’/iCorGaBF
57% 30 CorcfiS

25 UV.CaralCPS

36 12% Corlmag

17% iV.CorctCp
37% 9%Cc4tCo
26% 15%CvnhY 1

29%21v.CrkrBr1
24 B*ACrTcM.s

28 10 CredSys
MV. 20 CrdAcos
33% BVjCnnCom
39% JO’-.CulInFr

28 12VlCu3tai
27 15 CycneD

51% 53% ‘In
7 TVi* — Vu
10 10V, ._

17% 17% — %
46% J4Vi— TV,
15% 16V6 * %
35% 3SV, — %
35% 35% _

16 16% »%
18*6 19’A * V.
18’A 18% — %
17V. 17’A — %
47*6 48% —Vi
1946 19*6 _

19% 20 — %

17*4 17% — %
29% 30 v,

17% 17% — %
13% 13%

21 21
19Vi 19% -

II ’A 11% — %
9% Writ— V h
38% 38% —V.
25 25% -

25 25% +%

13% 13% — %
31% 31% — %
26V, 26% — %
28% 28*6 — %
17 17 — %

7 7 — Vu

5% 5%

60 60’/.— 1%
25% 25% -

19 19% _

34 34 — *A

12% 5% Cronus
44% 18% Cyrix Cp

44% 18% Cyrix I
3SV. l4%Cyrfc
BV. 3%CytRx

_ 14 210
_ _ 192
_ 17 4029
_ 1716
_ „ 4

_ _ 952
_ - 1318
_ 13 2147

- - 1917

1.12 14 II >090

- 172

- 37 216

.43 e 1.9 M 203
.09 1.0 13 2017

40 M 1 761

_. 36 1399
_ 29 710
_ 13 251
_ 34 950
_ 27 222
-110 3979

- 62 soa

_ _ 361
1 ja 2 A 16 *975

i 5 W

1524332
_ 2115463

- 39 49

- 289
_ 31 292
_ 35 2311

1J0 14 20 7

Jle 1.4 ... 7

_ 27 145

-■ M .?£
.. 20 149
.10* J 43 494
JO 2J 7 47?
J4 .9 19 631

m a _ i44<

M A _ 7021

- _ 3684

48 2.1 12 985

-2588 696
_ 22 332
.92 34 10 340
_ 115 1306
. 10 80

.10 3 9 20

- _ 2J92

- 34 2735

_ 16 694

- 15 385

_ X 77

_ 9 40

_ _ 2254

JO 24 _ 179
.. 32 67

_ 376
_ 1210

- 14 642
„ 22 3276

_ 3Z38

- 24 72

_ 44 274

.10 _ 25 9048

- IB 4458
SO .1 25 Mil

_ 16 1947
_ 18 278

- 43 16

- 23 3609

40 1.6 11 193

20 123
„ 27 1008

_ _ isa

_ 41 660

- II 758

_ - 21 99

02 n d pah

2V.DNA Pi
36% 17% DSC*
29% 16V, DSG Inf
74 , *,12 'aDSPGp
31 5%Damark

23% 14% Dankos

17 12 Datscn
27%I2VjDcupWl
27 14%DovdsnA
22% 9 ’A Day Run
33%23%D*Vrv
24%ll%DodtOuf

18 7%DeflcSHd
36 24%DWbGn
36%15**De8Cptr
22%11*,Dek1na
47 31 '..Derrlsoty
18 7r,Dwions
77V, 21 DlalPW
32 'A 13% DirBlI
24V, u%Dkrilntl
20 7%DaHl_nk
X 8’ADWMic
37V, X ESone*
X% 12%D<5CZon*
27%17%DM3nl5
26% 1 l%Donkenv
32%17%C3ourtm
15% B'ADresB
31’,Zl’ADr«varG
46% 14% Durocrfl
20 l4*»Dirirnn S

28»i 15%DytchC
28% 14% EO T1 S
34% 8%EMPI
34% 8%EeiHrd

39’ A 25V, Earn Von
48% 9%EdcA»

17 BMEICSO
46'A 19’rtEkJratJ
42 17%ElcArt
25 13’AEFI
16V, 11 EmmkSd
16V. 4"'/^ Encod
17V, BVaEnglHm
28% 10 Envtroist
73 13%EnroyCp
24% 15%EaulCrdt
14% 10V*EaTvlnn
60'/. 35%EriCT£i
18% ll%E*nSuf
.22% BWExob-rV
34 21 ‘aExdt
22 12*4, Expins

35% IHWExpSCPti
17% 11V, Ercorp
29% lB' .FHP
31%lf%FTPSH

„ 31 66

_ 2326
_ 2811060
JSe .9 14 441
_ _ 357
_ 24 2329
_ 31 601

- 16 257
32 U 11 7916

_ 34 312

- 2D 212

_ 18 733
_ 16 40

- 9 189

JO 24 26 28

_ 19 4729

- 2247
J8e J 19 36B

.. 28 1011

- 975
JO 4.7 — 371

- 13 550

_ _ 235
_ 34 303
_ 16 4)

- 7916924
JO J 25 1989

-. 14 580
_ _ 123

- 12 385
J4 1.0 29 196

_ 25 1145
47 24 18 1610

.131 5 S 5637

- 13 409
„ 23 1222

JO IJ 13 146

- 51 432
_ 225 168
_ 12 1971
_ IS 659

- 1810812
- 18 631
_ _ 10

19 841

■ u 't .? .i!

_ 41 752

_ 9 141

JSC 74 - 164

J°e U M 5951

_ 88 16
_ 17 1471

3 5 “7

18% IS’* — %
6 % 6 % — %
14V* 14% , >6

41VI4UV*— l¥i*

17% 18 —V*

22 Vr 23% ♦%

14% 14% . %

15% 16% « V.

10". 10% — %

14*4 14% — %
20 ’A 20% -

22% 22% — Vu
11 % 11 % ..
53V*53"A« > Vu
12% 12'/. — %

« 17 9312

15% 2 ’A FattCm
41% 25 Fasten.*
27% 14%RdelNY

31 1758
- - 600
.1 52 387
_ _ 285

32*6 37% — 1
71% 21% 1 %
32% 31 — %

12V. 12%

27V. 28% • 1%
21% 71% — %
4% 4H >%
40 40'/.— 'U„

27% 27% — «»

12 MBItn

HighUM, Slock

Dw YM PE loot High LcwLatedCh-ge

12Mon*i
PSgftUw SUXX

9.

, PE iocs Man

LowLaestOrra

11% 11% — %
23 M - %
10% 10%

28% 29% -%
8 8 — %

13% 13% — %
34% 24%

31% 31% — %
86 % 86% —1
18% 10% -
16% 1646 — %
6% 6% _
20% 20 Ji — %

55 45 FiftnT
17*6 7%FiaaieA
29’A 13 «eN9t
13% 7 FnBimr
35*628 Firstters
30 17%F*IAlerT
36% 28%FtATn
26 !5%FColBn

31*4 2?v,FComC *
27 ra% F1FM11 5
19% M’..FlFnCP
31%23%F1HBW
30% 6%FIPCNTW
20%13%FSPalm
32%72%FSwCr>
47%3S%Fs>Tenn
23% 18 Faerv
23 17 Flair

20% 9%Foamo*
7V, SHFdLloB
7% 5’AFaJoA
38% 30% For Afll
5% 3%RoregO
24%1QV*F0S5H

a 3 *o&tt

14% 7'APrnmTc
32% 19 FrshChc
35%25’AFr1l*_
42V.3I%FM*+«
70% 12’AFunco
15% 8%FulurHi*

20% 207* — %
22 % 22 -. — %

79* 8% — %
16% 17
70% 10% — %
Mt 9% -

18 18% -
18% 1Mb — %
33 23% _

14% 15 * %

51% 51% -

TO TO •«

17 17

14V, 14% -%
13%T4Vu -V*
31 22% * %

11% 12 %
41 41% *%

7T4 7 2V, —V*
8% 8% — %
23 73 —V*

4% 5 — %

16% 16%

8% 9V» - %
»% 51 —1%
3% 4%

65% 66% — %
11 11% —Mr

34% 25% *%

53% 54% *%
33 V, 32% —V,

11% 11% -'A
29% X — I'A
24% 24 ’Vu — %

I 15 567 S3
. _ 519 9v,

. 21 1092 24%
. _ 206 10%
| 12 32 34

. _ 60 25%

s 9 258 34%
S 20 578 73%
( 9 9251 28%

I .. 1361 24*4
L 9 226 16%
I « 109 29
. - 8*4 7

. _ 203 19%
I 13 1046 32
i 10x2362 47%
. 25 4049 21%

i 15 13 «%

, _ 690 Il’A
! 200 1483 616

i 196 1750 6

I 12 13 32V.

. 393 3H

.31 58 23%

. 7 525 5Uk

. _ 657 14%
. 29 957 20%
.34 2 34%

I 19 1554 33

73 736 II
34 1744 u 16

51 v, S3
9 Vi ?'A -

23% 33% — ’■*
10% 10V, ...

33% 34
23 25 — *6

34 34'.. - %

23% 3% — %
a 28% -

24% 74% -%
16% 16% -
28% 28** — V*
6*k 6% — %
19 19% _

31% 32 -V.

46% <7 — %

21',. 21% -%

18% 19%

10*6 11 -V*

6 6-
5% 5% —'«
31% 32% -%
3% 3*6 — %
3 3% - %

4*6 5 *v„

13% 14 — %

70 20 % — %

34'A 34 '1 _

3I%31%— 1*6
17 17% _

14% 15*i-l

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rfghLor. Slock D>»
35% 1 7% LdmhGon
27V, 15'ALanarys
23 l4%Lmtsn-
18% 5Hi_avmTc
26% 17V, Lathee
21 % ia% uwvrntt .12
29*6 i4V:ucodrFn
30% U’autibCo
16 V, 9 ueenters
34%17V»L«em

26% 16% LcroWo s
jo n*ueuSA
18 llKUVylnds St
!J7 ID7%LinBrd
2S'.-il7*iiUr«ore *

20 V; 13*6 LincTI 1 J2
49% 30% LinearTc 24

8’,, 4%uoasm
11% 4%LaJ9Ck
17% 6%LOdflBU
27%21%Ura«nH M
JQ' -i li’.'jt-neSStt-.

12% 6’AUiaSlfc
73 ’ i 6 LarrervE Jll
86*3 29% talus
29% 21% MO J5
S7*A 20% MFi On
6%2’"aMHKA«ver _03e
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2B’Al7%Wi5Carr
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21 I'/tMocroma

YId PE IBh f+gfi UswLBfcsrCn’oe

73

- 50

I 179

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_ _ 396

- — 104

63 15 »

t 9 *t
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II 3.

1146 11%
6% 6*6
21*6 21 %
4 4

1V„ l*h,

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_ _ 52

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_ 17 25

is in 73
33 11 15

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_ 8 127

- _ JM
_ 27 1379
_ _ 190

- - 34

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5

_ 74 2718

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China Changes
Satellite Orbit
To End Dispute

INTERNAITONAL HERALD TRIBUNE, TUESDAY, SEPTEMBER 1 3, 1994

Little Saigon’s Mission to Hanoi

V ietnamese-Amerieans Pit Politics vs. Economics

Page 13

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HONG KONG — China
coded a dispute surrounding its
first step into the commercial
satellite business by agreeing on
Monday to move its Apstar 1
satellite to a different orbit to
avoid interfering with signals
from nearby satellites.

AFT Satellite Co, a Hong
Kong-based company con-
trolled by China, said it would
move Apstar 1 to the 1 38 degrees
East ska, currently allocated by
international agreement to the

island nation ofTonga.

Apstar 1 was launched on July
21 into the 131 degrees East po-
sition, near a satellite operated
by Nippon Telegraph & Tele-
phone Cotp.

A day after the launch, Japa-
nese officials accused China of
violating international regula-
tions, and threatened to take
“apropriate measures” if the sat-
ellite's relay unit were switched
on. Japan asked China either to
change the Apstar l’s planned
position or refrain from using
band widths used by the Japa-
nese satellite.

Although APTs decision to
move the orbit puts an end to its
dispute with NTT and other sat-
ellite operators, some of its cus-
tomers may not be satisfied.

. API’s customers for the Ap-
star 1 include Turner Broadcast-
ing System Inc/s CNN, sports-

BeijingtoKeep
fl.£ Dollar Tie

The Associated Press

BEIJING — The Hong
Kong dollar’s link to the
U.S. dollar will be not be
changed after the colony
reverts to Chinese rule in
1997, the China Daily said
Monday.

The newspaper quoted
official sources as saying the
system had helped maintain
investor confidence and
Hong Kong’s economic and
financial stability.

The Hong Kong curren-
cy has been pegged at
about 7.8 to the U.S. dollar,
with only minor fluctua-
tions allowed, since the ear-
ly 1980s.

easier ESPN Asia, Viacom
International and HBO Asia.

A spokeswoman Tor Televi-
sion Broadcasts Ltd, another of
APTs customers, said she was
not worried about the satellite's
new postion as the coverage of
her company’s market in East
Asia would not be affected.

But at least one other cus-
tomer was not so happy.

The customer, wno declined
to be named, said coverage
from the earlier position
reached comprehensively into
the lucrative market of India.

However, the satellite's new
position further to the East
would weaken the strength of
its signal over the Indian sub-
continent.

The customer said he would
have to investigate using more
advanced methods such as big-
ger antennas to receive its signal
m India , although it was too
soon to know what the full im-
pact of the ralntal move would

Apstar said services from the
satellite would begin soon, but
did not elaborate.

China has been promoting its
satellite launch business as a
low-cost alternative to more ex-
pensive systems in other parts
of the world. The Apstar 1 was
pul into space by a Long March
3 rocket from the Xi chang
space center.

By Seth Mydans

Mew York Tima Service

WESTMINSTER, California — It
took him eight tries and cost him neatly
two years in prison, but a decade ago
Philip Nguyen succeeded in fleeing Viet-
nam with his wife and children, though
with little else.

This month, to the outrage of some
fellow refugees here in the community
known as Little Saigon, he will return as
a member of a delegation from the Viet-
namese Chamber of Commerce in West-
minster to establish business links with
the Communist leaders in Hanoi.

“I am going as a businessman," said
Mr. Nguyen, 49, who is a partner in a
company that manufactures water- filtra-
tion systems.

“But also I would like it if my relatives
in Vietnam, if 73 million citizens there,
can enjoy the same standard of living 1
enjoy here.”

The trip adds an official stamp to the
increasing flow of Vietnamese- American
entrepreneurs to the country since Presi-
dent Bill Clinton lifted the trade embar-
go earlier this year. For some refugees, it
is emblematic of the ascendancy of eco-
nomics over politics.

The lifting of the embargo has hurt the
busy underground economy that helped
support Little Saigon, where about
60,000 Vietnamese- Americans live.

Many of the 1.500 businesses in the
community thrived on the black-market
transfer of dollars and goods to Vietnam,
mostly through third countries sucb as
Thailand and Taiwan.

Business boomed with sales of every-
thing from pharmaceutical products to
computers, transhipped to Vietnam by
various routes. Even with much of its
economy underground. Little Saigon
was paying SI million a year in taxes to

Westminster, said Dr. Co Pham, the
president of the Chamber of Commerce
and the leader the delegation that will go
to Vietnam later this month.

Bui now, he said, many of its pristine
malls and shopping centers do little busi-
ness. and the community that fled Viet-
nam in fear and desperation is turning its
eyes back toward “big Saigon.”

“We want Little Saigon to be the
Hong Kong of Vietnam in the future,"

The true motivations
around here are all
business . 7

Yen Do, editor of Ngnoi Viet

Daily News.

said Dr. Co, a gynecologist who heads
the thriving Bolsa Medical Center here.

The Vietnamese community can be
the middleman for exports, travel and
banking as well as the recipient of invest-
ment by a growing class of wealthy Viet-
namese officials, he said.

Hien P han, the executive director of
the chamber and another member of the
delegation, said. “People will get wealth-
ier and ideologies win vanish once they
have a taste of money.”

But the passions of the 20 years of
fighting in Vietnam have been slow to
die. In the fractured overseas Vietnamese
community, conservative and -Commu-
nists oppose the delegation.

In past years, a newspaper editor was
killed for advocating contacts with Ha-
noi, and a travel agency that organized
visits was firebombed.

Every day except Sunday, a half dozen
demonstrators with yellow-and-red
South Vietnamese flags sit in the shade
outside Dr. Co’s medical center.

Large yellow banners stretched be-
tween the trees read, “To foster Commu-
nism for dollars is a crime against hu-
manity." Some patients entering Dr.
Co’s clinic have been harassed, he said,
and some have stopped coining.

"They threaten mv life all the time.
I’m tired of them," Dr. Co said. “They
disturb my peace, my concentration on
patient care.”

An organizer of the demonstrations.
Diem Do, made the argument that can
be heard among emigres from Cuba and
elsewhere: business contacts only serve
to prop up a hated regime.

“Without foreign money, without for-
eign capital, without financial resources,
the chances are they will collapse much
sooner,” he said.

The political byplay is only a sideshow
to the new economic imperatives of the
overseas Vietnamese community, said
Yen Do. editor of largest Vietnamese-
language newspaper in the United
States, Nguoi Viet Daily News.

“Politics is just a sport here," Mr. Yen
said. “People talk politics but they don’t
believe what they say. The true motiva-
tions around here are all business.”

Mr. Nguyen is all business, too.

“I’m not talking about politics," he
said. “Forget about politics. As far as I’m
concerned, Vietnam is a good market
and we’re going there. The product is a
good product and it wflj help improve
the life of the people there.”

The 10-day trip in late September will
visit both Ho Chi Minh City and Hanoi,
where Dr. Co has scheduled meetings
with the four top members of the Viet-
namese government.

|| Investor’s Asia |

Hong Kong

Singapore

Tokyo

Hang Seng

Straits Times

Nikkei 225

1 IUUU

gannA/V/

J* m tm

/

YH

Z2QQ j 1

■

AWJCjri' ‘

6000

2100/

19000'

^amTjas ®a hJ

jTf

«A - J'

J A S

1994

1994

1994

Exchange

Index

Monday

Prev.

%

Close

Close

Change

Hong Kong

Hang Seng

9.890.37

10,145.00

-2.51

Singapore

Straits Times

2^80.33

2,299.96

•0.85

Sydney

AD Ordinaries

2.03SL90

2,070.60

•1.82

Tokyo

NiKkei 225

19,917.28 19,897.88

+0.10

Kuata Lumpur Composite

1,16845

1,181.56

-1.07

Bangkok

SET

1,490.41

1.508.85

-1.22

Seoul

Composite Stock

995.70

986-52

+0.93

Taipei

Weighted Price

6^67^8

6^99.82

-0.46

Manila

PSE

2^19l31

2.983.00

-2.14

Jakarta

Slock index

52154

532.56

-2.13

New Zealand

NZSE-40

2,111.09

2,158.71

-2.21

Bombay

National index

2,172.80

2.149.49

+1.08

Seiko Borrows a (Global) Page From Dick Tracy

By Andrew Pollack

New York Tima Service

TOKYO — In a develop-
ment that sounds like some-
thing oat the Dick Tracy comic
strip, Seiko Coip. said Monday
that it planned to develop a
global paging service that
would deliver information to
wristwatch receivers.

Unlike Dick Tracy's two-way
wristwatch radio, however, the
Seiko watches would only re-
ceive 16-character textual mes-
sages.

Seiko said customers could
use the watches to receive news
and financial information as
well as short messages.

The company has been offer-
ing the wristwatch paging ser-

vice in Portland, Oregon, and
Seattle for about a year and a
half and has about 14,000 sub-
scribers.

Seiko plans to expand service
to 20 cities in the United Slates
by the end of 1995 and to more
than 50 U.S. cities by the end of
1996, Yoshiyuki Narahashi, a
Seiko executive, said.

The service is also being in-
troduced in Europe and parts of
Asia, said Mr. Narahashi, who
is the president of Seiko Com-
munications B.V., a subsidiary
based in the Netherlands that
will develop the system.

Mr. Narahashi said Seiko
would be able to offer less-ex-
pensive service than existing
paging services. While conven-

tional systems require their own
towers and antennas, Seiko will
use existing FM radio stations
to transmit its messages.

In Seattle and Portland, the
service costs as little as S6.95 a
month for unlimited messages
plus a $20 sign-up fee. Custom-
ers also have to buy a receiver
watch, which sells for $100, a
price that will be reduced to $80,
Mr. Narahashi said. He said the
fee for nationwide service would
also be about $6.95 a month.

The technology used by
Seiko was first developed by
A-T.& E, Cotp., a company in
San Francisco that attracted a
lot of attention in the late 1980s
with its bold claims. In 1989,
A. T .& E said it would have 10

million subscribers by 1994 for
wristwatch. worldwide paging.

A. T.& E. failed financially
in 1991. Seiko, which had been
providing the wristwatch re-
ceivers for A. T.& E., look over
the company and the service.

Seiko faces stiff competition
in a rapidly-changing field.

In die United States, some
two-way paging systems, capa-
ble of sending and receiving
spoken and written messages,
are being developed. Pagers
also face competition from cel-
lular phones. There are also
some bold plans, such as Mo-
torola Inc's Iridium project, to
develop worldwide mobile com-
munications services, including
paging, using satellites.

Seiko’s system is a poor
man’s Iridium. It will cost only
about $20 milli on to $25 million
to develop the national network
in the United States, Mr. Nara-
hashi said.

■ NEC, Motorola in Talks
NEC Corp. and Motorola are
considering plans to develop a
high-speed mobile telecom-
munications system for the Jap-
anese market, Bloomberg Busi-
ness News reported
An NEC spokesman said
Monday that the system would
allow users of portable comput-
ers or electronic personal assis-
tant devices to send and receive
images and sound as well as or-
dinary text.

Sources: Reuters. AFP

Very briefly:

• Japan said it postponed a decision on a 530 million purchase of
US. military support aircraft after France, which also had sought
the contract, questioned the bidding process.

• China is to introduce laws banning “excessive profit-making" to
uy to head off a “serious threat” to growth and social stability;
Xinhua reported that retailers selling goods for more than 'a
“reasonable" percentage above their average price in an area
could be fined 100,000 yuan ($12,000).

• BAT Industries PLC plans to enter the mutual funds and
insurance markets in India in ventures with its 32 percent-owned
Indian associate, ITC Ud.

■ Samsung Electronics Co., Goldstar Co. and Hansol Paper Manu-
facturing Co. issued South Korea's first won-denominated float-
ing-rate notes, totaling 1 30 billion won ($162 million): traders said
buyers were responding coolly to the issues.

■ Telekom Malaysia Bhd. gained an A rating for its proposed
Eurobond issue of $300 million to $500 million from Standard &
Poor's Corp., which cited the company's “impressive profitability
and strong capital structure" lor the upper-medium-grade rating.

• Matsushita Electric Industrial Co. said it and its Matsushita
Electronics Coip. subsidiary set up a joint venture, Shanghai
Matsushita Semiconductor Co., with a Shanghai company to make
integrated circuits in China.

• Japan's International Trade and Industry Ministry said it began
“informal talks" with Taiwan on lifting Taipei’s ban on imports of
Japanese cars.

• South Korea will allow 4,000 new foreign workers tins year to

work at the nation's shoe factories, which have been losing
business to China and Southeast Asian countries where labor
costs are lower. Bloomy. Reuters. AFP. AP

Don’t miss our bi-annual

SPECIAL REPORT
ON INTERNATIONAL

Telstra Posts Record Profit, Seeks Growth in Asia I China Thirst Tempts Swire

pi* « r

Compiled by Ovr Staff FtamDtyauha

SYDNEY — Telstra Coip.
announced the largest corporate
profit in Australian history cm
Monday and the tdecammum-
catkms company served notice it
planned to use its financial mus-
cle to become a major player in
the Asia-Pacific region.

Telstra, wholly owned by the
Australian government, said net
profit soared 88 percent, to 1.7
billion Australian dollars (SI J
bflHonX while sales swelled 6
percent, to 13.4 MScm dollars,
for the 12 months to June 30.

% The profit, which eclipsed the
record set by Riroert Murdoch’s
News Coip. of 1.36 billion dol-
lars last month, was achieved
< through a combination of a lean

work force, reduced expenses
and reduced tax and interest
charges in a surging economy,
the corporation said.

“It is critical that Telstra
maintain a high level of profit-
ability to meet customer de-
mand for new and enhanced
products and services in order
for the company to be success-
ful in a highly competitive in-
dustry,” said Frank Blount,
chief executive.

Telstra, which does business
as Telecom Australia in the do-
mestic telephone market, plans
to increase spending by 33 bil-
lion dollars a year over the next
three years to usher in rapid
changes in the telecommunica-
tions industry.

“We are also positioning our-
selves to be the preeminent tele-
communications provider
throughout the Asia-Padfic —
our international strategies are
fundamental to our future via-
bility,” Mr. Blount said.

But Telstra's Asia-Padfic ex-
pansion plans were denied Fri-
day when it announced it would
not proceed with a telecom-
munications joint venture in the
Philippines. Telstra had
planned to spend 267 million
dollars on the venture.

“It was not the terms and
conditions that we wanted to
enter that market place for, or
with, so in that regards I think it
is the right decision and that is
positive," Mr. Blount said.

Last week also saw the col-
lapse of the Australian Pay
Television consortium, an alli-
ance between Telstra, News
Corp. and Kerry Packer's Nine
Network Australia Ltd
But Mr. Blount said the col-
lapse was also positive for the
company because it was now
allowed to pursue other ven-
tures in Australia.

(Reuters. AFP)

Arts & Antiques

6«y Saturday
Contact Fred Rooan

TeL-(33 1)46 3793 9?

Fax: [33 1)46 37 93 70

or your nearest 1HT office
or representative

Bloomberg Business Newt

HONG KONG — With an eye on China, the world's
second-largest beer market, Swire Pacific Ltd said Monday it
would buy a 39.2 percent slake in Car Is berg Brewery Hong
Kong for 523 million Hong Kong dollars ($68 million).

The Hong Kong trading house said it agreed to buy 30.0
percent of the brewery from East Asiatic Co., a Danish
industrial conglomerate and 92. percent from the Danish
brewer Carisberg A/S. Before the deal. Carlsberg and East
Asiatic both held 50 percent slakes in the brewery.

Swire said the partnership would pave the way for Caris-
berg Hong Kong to expand into China's beer market.

Carlsberg signed a memorandum of understanding on
behalf of Carlsberg Hong Kong to buy a 99 percent stake in
the brewing and can manufacturing business of the Huizbou
Brewing Co. in Guangdong province from Hong Kong invest-
ment company Tomson Pacific, Swire said

x v OCTOBER II, 1994

To advertise,
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INTERN ATWINAI. RF.RAT.n TRIBUNE, TUESDAY, SEPTEMBER 13, 1994-

Page 15

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tf American Eouity Fund < 207,9$

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w Euronnn Eaultv Fd S 12AM

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m FMG Europe 131 Julvl 5 ioaS

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m FMG Q 131 July) 4 ?2i

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FX CONCEPTS (BERMUDA) LTD

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iv Goto Hedao III 5 17,79

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GARTMORE IHDOSUEZ FUNDS D9/09/M

Tel: (MJ « 54 24 47(1

Fax: issll 46 54 23
BOND PORTFOLIOS

d DEM Bond Dts 452 DM 636

d Dtvertmfld DM265 SF 296

d Dollar Barm Din 224 to 2 M

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d French Franc_Dte 976. FF 1263

d Global Bond DlsZlB S 245

EQUITY PORTFOLIOS

d ASEAN S 9J4

d Avlwgni-HH- t 124

d Continental Eoraat. Ecu US

d Devekxring Markets J 4J3

d Franc* FF 10.92

d Germany DM 569

d um rart fa nol * 267

d Japan Y 27100

d NorttiAmerlai 5 273

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RESERVE FUNDS

d DEM [Us 5702 DM 6J8C

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CEFINOR FUNDS

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■v Scottish World Fund 5 479J713

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GENESEE FUND Ltd

v (Al Genesee Eagle 5 iod

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wJFI Genesee Nan-Equity 1 13978

GEO LOGOS

ivll Straight Band B Ecu I056JD

wll Podftc Bond B SF 1269.90

GLOBAL ASSET MANAGEMENT

OFFSHORE FUNDS

11 Atnol SLDouohB.1 ol Man 4442462W37

wGAMerfco 5 48258

M GAM Arbitrage J 412JT7

tv GAM ASEAN 4 47566

IV GAM Austral to S 23UD

IV GAM Boston 4 30078

w GAM Combined DM 12361

w GAM Cross-Market 5 11235

iv GAM European S 9574

iv GAM Frteice FF I7B7JI1

w GAM Frcmc-vai SF 24964

WGAMGAMCO S 217J0

tv GAM High Y»*0 ---4 15001

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IV GAM Money MX Is USB 5 10075

d DO FMtHfcy r 10B.9B

d Do Swiss Franc SF 10075

d Da Deut sc hem or k DM sbmo

d DO v - - V 10032JW

iv GAM Allocaled Mltt-Fd I 16235

tv Gam Emera Mkts Miti-Fd _5 18167

tv GAM MM- Europe US5 S 13463

tv GAM Ml It- Europe DM DM 125.71

w GAM Mllt-Gtobal USS S 17476

iv GAM Mdl-US 4

IV GAM Trading DM, — DM 123J2

tv GAM Trading USS S 148J2

iv GAM Overseas 4 15435

IV GAM PocHIc 4 991.95

tv GAM Relative Value 4 10076

w GAM Selection 4 63*61

iv GAM Stopaponi/Malaysia-S 70225

ivGAM SF Speckd Bond SF 131.19

■rGAMTvche^— % 342.91

w GAM UA 5 21264

w GAMul Investments 4 05769

IV GAM Value S 130.92

tv GAM Whitethorn 4 1B9.90

tv GAM Worldwide .,-4 674J9

W GAM Bond USS Drd 5 14118

w GAM Band USS Speck* __i I91A4

iv GAM Bond SF SF 1«UB

iv GAM Bond Yen Y 1463800

iv GAM Bond DM OM 11760

IV GAM Band t E 15x53

Mr GAM (Special Bond C 144.16

w GAM Universal USS s 14850

IT GSAM Corrtpaslle 4 33735

•vGiotaal Strategic A 4 10179

iv Global Strategic B S 100.90

iv Eurooecxt Strategic A 4 l«ur

iv European Strategic B 1 10071

iv Trading Strategic A S 10075

iv Trading Strategic B, — . — 4 101. U

wEmera Micts strategic A — s HOT*

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5W1S5 REGISTERED FUNDS 41-l>4a2«2o
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d GAM (CHI Europe SF 9*60

d GAM (CHI Mondlnl . . . . 5F 16119

d GAM ICH) Pacific SF 29SJ2

SEC REGISTERED FUNDS

135 East OTh Streets Y 1002271 2-88M200

w GAM Europe 4 9266

iv GAM Global 4 13460

nr GAM International S 19SJ4

w GAM North America S 91.10

w GAM Pacific Basin t 17771

IRISH REGISTERED UCITS _

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iv GAM Eurtma Aoc DM 13273

w GAM Orient ACC DM 142.11

Mr GAM Tokyo Act DM 178.03

iv GAM TUM Band DM Acc — DM 10444

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GLOBAL CAPITAL MANAGEMENT LTD
Bermuda: (SP) 29S6000 Fax: 180*1 295*180
JWH GLOBAL STRATEGIES LTD

w (A) Ortolnol Investment 4 9J.W

Mr (Cl Fhumclol E MeMs 4 14537

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w HI Yen FLimdal 1 15738

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IV LI Global Flnondct ■ 5 9066

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CAPITAL I NTL GROUP

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d G.T. DeutKhWnd Fund s. 13JA

d G.T. Europe Fund 5 5024

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GUERNSEY CAPITAL MANAGEMENT LTD

f GCM Global se». Ea. 9 111.19

GUINNESS FLIGHT FD MNGRS (Gtaev) Ltd
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d Global Bono 3152

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d Jooan end Pacific 5 13573

d UK ■ f 37.10

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0 US Dollar Monty S 3EJ71

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m Hermes North American FdS 29060

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INTERINVEST (BERMUDA! LTD ;

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d JFJaoan Trust- Y T21S2JH

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d JF Thailand Trust —5 4358

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w Govett Man. Futures —c 1)55

iv Goveh Mon. F11L USS S 7J4

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JULIUS BAER GROUP

a Boertond SF

d Cenbcr SF

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d Eaulboer Europe SF

d SFR - BAER SF

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d Swiss Stock Fund SF

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d DM Cash Fund— DM

0 ECU Ccsn Fund Ecu

d Sietilna Cosh Fund — .£

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KEY ASSET MANAGEMENT INC

mKev Asia Hotobips 4 101*6

m Key Global Hedge 3 25439

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Kl PACIFIC ASSET MANAGEMENT INC

m Kl Asia Podric Fd Ltd 4 1187

KIDDER, PEABODY

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b Stonehenge L!0. 4 176081

LEKMAH BROTHERS 9?*l/«
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d Global AdvKOD II NV A— 5 1069

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d Global Advisors Port NV A_S 10x4

d Global Advisors Port NV B-i 1057

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UPPO INVESTMENTS
24/F Uppo Tower Centre, 8* QueenswavJfK
Tel (8521 867 6888 Fee (852) S*» KK3

w Javo Fuad 4 977

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iv J D R Montv Market Fd s 128 1

iv USD t/arjr, Mgrke: fo s 1054

w indonesJor. Growth Fd 4 2*J»

ir Aston Growih Fcna S 10.®

w Aslon Wcrrant Fund-. — — 4 580

LLOYD GEORGE MNGMT (8521 HS 4433
Mr Antenna Fund .5 1865

iv LG Asian Smarter Cos Fa_A 1*8572

wLGlnalo Fund Lid S 1775

w LG Jooan Fd 4 HUB

LLOYDS BANK INTTL (BAHAMAS! Ltd
■v Ltovds Americas Portfollo-S 972

L06WARD. ODIER & CIE - GROUP
OBU FLEX LTD (CD

d Multicurrency — ^ 4 3264

d Dollar Meflium Term __J 2488

d Dollar Lang Term 4 1987

a Jnnanase Yen— — V *95000

d Pound sterling.-. ■ . < 266*

d Deutsche Mark- DM 1750

d Dutch Florin FI 1873

d HY Euro Currencies Ecu 1531

d Swiss Franc 5F 1258

d US Dollar Short Term 1 1380

0 HY Eure Cure Dlvtd Pay Ecu 105*

0 Swiss Muhlcureencv SF 1661

d European Currency Ecu 21.73

0 Belgian Franc— BF 1J272

d Convertible. s IMS

0 French Franc FF 15469

0 Swiss Mutn-Olvtdend S F 95*

0 Swtss Franc Short-Term —SF 10784

d Conn cDan Doffar,-.. ■ C3 1366

i tf Dutch Florin Multi Fl 1469

0 Swiss Franc DIvW Par SF 1033

d CAD Mull tour. Div — .a 1170

0 Mediterranean Core SF 10.10

tf CcnverrlNes SF 9.5fl

d Dcvtscnmark snort Term— DM MMn

MALABAR CAP MGMT (Bermuda) LTD

m Mo labor inn Fund 1 1967

MAH INTERNATIONAL FUTURES
m MM Limited - Ordlnorv — s 40JH

m Mint Limited- income, $ 12J»

in Mint Gtd Ltd - SMC Issue— 4 2682

m Ml fit Gtd Ltd - NO* 2007 5 27.0o

m Mint Gtd Ltd -Dec 1994 s 1731

miAtnt GW Ltd ■ Aofl 1995 I 1451

m Mini Sp Res Ltd I BNP) I 9737

mMIffl Ota Currencies 1 6.72

mANnl GW Currencies 2001 S 6.0s

mMlMGGL Fin 2003 4 633

in Mini Plus GW 2003— _s *5*

ih AlhenaGId Futures— 4 I2JS

m Athene Gtc Currencies S *3*

mAtneno Gld Flnanctals Oxi5 106*

m Athena Gtd Financials lnc_S 1D.I I

mAHL Capitol MMS Fd % 1117

mAHLCommoditv Fund 5 10.72

rnAHL Currency Fund —4 761

mAHL Real Time Trad Fd — 4 BJb

mAHL Gtd Real TtaW Trd — S 8.99

mAHL Gid Cos Mark Ua S 986

mAHL GW Com modules LW J 954

mMap Guaranteed 1996 Ltd — 5 887

in Mon Leveraoea Recov.LtdJ 1179

mMAP Guaranteed 2603 s 9.9fl

mMAP Gtd 200) 4 1065

MARITIME MANAGEMENT LTD
73 Front 51 Hamilton Bermuda (009)292 9789
w Maritime Mit- Sector I Ltd _S 100389

w Morlilme GW Boro Series -S 83139

w Maritime Gl0lDettaScr1e35 73684

MATTHEWS INTERNATIONAL MCT
EMERGING ASIAN STRATEGIES FUND

m Class A S 11883

d Class B S 11776

PACIFIC CONV STRATEGIES FDLTD

t 95.98

0 Class B -S 9969

MCKINLEY CAPITAL PARTNERS, LTD

mThe Corsair Fund Lid s 7*85

oi The Daunt tesFd Lid S

MEESPIERSON „

RoklnS, W2tk. Anuterdam (30-CT1188)
wAsioPac Growth FdN.V._| 4108

w Ason CoMtci Holdings 4 4353

» Asian Select iw Fd N.V Fl 104.43

w DP Amer. Growth FdN.V.^ 3689

w EMS Offshore Fd N.V Fl 10153

* Europe Growth Fund N.V. _Fl oil 7

w Japan Diversified Fund S 5*86

w Leveraged Cod nota i NU9

MERRILL LYNCH

a Dollar Assets Pnrltalla—S 180

0 Prime Rate Portfolio— 4 1080

MERRILL LYHCH SHORT-TERM
WORLD INCOME PORTFOLIO

i 639

d cuss B s 839

MERRILL LYNCH
GLOBAL CURRENCY BOND SERIES
AUSTRALIAN DOLLAR PORTFOLIO
C Category a AS 1882

d Category B —AS 1764

CANADIAN DOLLAR PORTFOUO

0 Category A CS 1*13

d Cateaarv B CS 13J7

CORPORATE HIGH INCOME PTFL

0 dose A- 1 * 9.13

d Otcs A-2 S *86

d Ctass B-l * P.U

d Clan B-2 I 983

DEUTSCHE MARK PORTFOLIO

0 Category A dm iioi

0 Cateaarv B DM 1266

EUROPEAN BOND PORTFOLIO (DM)

0 ClassA-1 S 1161

0 Ctass A-2 S 1588

d Class B-i s 1361

ti class B-2 4 1483

EUROPEAN BOND PORTFOUO IUSSI

d Class A-l DM 889

0 Class A-2 DM 981

0 Class B-1 s 889

d Class B-2 % 973

POUND STERLING PORTFOLIO

0 Category A_ t 1585

d Category B I 1555

US DOLLAR PORTFOLIO

Category A — 4 1163

d Category & ... . s 1123

YEN PORTFOLIO

0 Category A Y 1286

0 Category B Y 1242

MULTI CURRENCY BONO PTFL
'tr**,* » 21.96

0 Class B 5 2138

US FEDERAL SECURITIES PTFL

d Class A S 931

0 aoss B 4 980

MERRILL LYNCH

EQUITY / CONVERTIBLE SERIES

BASIC VALUE PORTFOLIO

d Clan A * 1558

d CloSS B I I486

CONVERTIBLE SECURITIES PTFL

d Class A t W.I9

d Class B 1 1175

GLOBAL ALLOCATION PTFL (USS)

d Class A S 1068

d Class B S 1051

GLOBAL EQUITY PORTFOUO

d Class A 4 1058

d Cfasi B S 9J7

EURO EQUITY PORTFOLIO

0 CloSS A S 1683

d C!0» B 4 1427

LATIN AMERICA PORTFOLIO

0 Claes A s 1800

dCianB s 1760

PACIFIC EQUITY PORTFOLIO

tf Class A S 985

0 ClonB S 984

WORLD NATURAL RESOURCES PTFL

0 Clan A 4 1261

tf Class B S 1187

DRAGON PORTFOUO

0 Clan A 4 1787

0 Ckm B —I 1758

MERRILL LYNCH EMERGING MARKETS

d Class A S 1114

0 Class B S 12.13

MERRILL LYNCH INC 4 PORTFOUO

d Ckm A 3 861

d Oa» B 4 861

0 Clan C s 861

MERRILL LYNCH MEXICAN INC PORT

d Mexico) Inc S Ptfl Cl A S 98*

d Mo* I am Inc 1 PHI Cl B 4 984

tf Mexican me Peso Pin a a j km

0 Mexican Inc Peso Ptfl Q Bj 894

MOMENTUM ASSET MANAGEMENT
w Momentum Navdlier Pert-S 9169

m Momentum Rainbow Fa _S lUj*

m Momentum RxR R_U s 82.72

m Momentum Stock master 4 15155

MORVAL VONWILUEH ASSET MGT CD

w MKT Japan Y 21880

wWIIler South East Asia s 1862

w wilier Telecom 4 KUO

w Wlllerfundx-Wlllerbond Cool 1 564

wWlllertutKtvWinertwnd EurEcu 123*

iv WUlerfunds-WUlerea Eur— Ecu 1384

w Wlltortunds-Wiltorea Italy _Lll 1245400

iv wiiierfunds-winereq na s 1)35

MULTIMANAGER N.V.

m World Band Fund Ecu 1257

m European Equities Ecu 1**1

m Japanese Equities — Y 881

mEmeroWg Markets- s 2180

mCash Enhancement S *jn

mArt*frage 4 98*

mHodoe — | 1284

NICHOLAS-APPLEGATE CAPITAL MGT

w NA Flexible Growth Fd S 14762

wNA Hedge Fund I HMD

NOMURA INTL. (HONG KONG) LTD

0 Nomura JtAarta Fund S 11.19

NORIT CURRENCY FUND

mNCFUSO 4 81751

m NCF DEM -DM 871.13

IhNCF CHF SF 92479

10 NCF FRF FF 4491S0

mNCFJPY Y BI49SJH

at NCF BEF BF 2679380

ODEY ASSET MANAGEMENT LTD
21 Grasvenar St.Ldn WIX 9FE64-71-499 2998

d Odey European DM 127.17

iv Ddev European 4 13355

■vOdev Euroo Growth Inc DM 1*164

iv Odev Eiirao Growth Acc DM 1*2.18

■rOdevEuroGrthSterinc C 5890

wOdev Euro Grth Shir Acc— I 59.11

OLYMPIA CAPITAL INTL. INC
WTHlams House. Hamilton HMI1, Bermuda
Tel: 809292-1018 Fax: 8092*5-23®

IV Flnsburv Group—— 4 22139

w OivmoJo Securlte SF SF 14*97

tv Olrmpia Stars EmergMklsS 981.18

iv Which. Eastern Dragon S 1774

» Which. Frontier— —5 24794

iv Winch. Fut. Olympia Slor_ S 16150

0 Winch, a Sec lne PI ( Al— 5 9.1*

w Winch. Gl Sec Inc PI (Cl — 4 964 .

m Winch. Global Healthcare -Ecu I0427B :

w winch. Hug nm Mod (son —Ecu 151*60

nr winch. HWg lim Ser D ECU 178586

w Which. HJdgmnSerF—. Ecu 177251

w Winch. HMg Oly Star Hedges 103*13
w Winch. Brier. Multi. Gv B0_$ 1786

» Winchester Thai land S 3174

OPPENHEIMER A CO. INC Fds
b Arbitrage International — s 1M.14

a Emera Mkls Inn 1 1 S ID4J9

b inn Horizon Fund II 4 10188

OPTIGEST LUXEMBOURG
b OollBesI Glbl Fd-Flxed IncJJM 157388

0 OrttoesJ GIM Fd-Cen Sub RDM 1B2872
OPTIMA FUND MANAGEMENT
73 Front ST, HomHton, Bermuda 889 2958*3
nr Optima Emerald Fd LW— 4 1057

■vOpllina Fund S 1785

iv Optima Futures Fund— 5 1676

w Optima Global Fund. — — s 1*08

■v Optima Pertcuia Fd Lid — 4 958

w Optima Short Fund 4 6.93

w The Platinum Fd Ltd 1 1058

ORBITEX GROUP OF FUNDS

d Orbltev Asia Pac Fd 8 58200

tf Oral ten Grcnrtn Fd 1 7.4926

d OrtMtex Health 8. Envlr Fd_5 53200

tf oral texJapai Small cop Fas *9399

tf Ortoiex Natural ResFd CS 165935

FACTUAL

d Eternity Fund Ltd S 3*33570

tf InflfKhr Fixxl LW S 5656463

0 NOvastar Fund 4 1110429

tf star High Yield Fd Ltd s 1619212

PARI BA £<> ROUP

W Luxor — — — S

0 POTVesl USA B 4

0 Parvwt Japan B -V

0 Parvest Asia PacH B 1

tf Parvest Europe B Ecu

tf Parvest Holland B R

tf Parvesl France B FF

0 Parvest Germany B DM

d Parvest OblLOolior B S

0 Parvest owhjm b dm

tf Parvesl ObH-Yen B Y

tf Parvest Obit-Gulden B Fl

tf Parvesl Obit-Franc B FF

tf Parvest Obll-Sler B. c

0 Parvest OblhEcu B Ecu

0 Parvest Obii-Bviux b lf

a Parvest £-r Do»dt b s

0 Parvesl S-T Europe B— Ecu

d Parvest S-T DEM B DM

d Porvest S-T FRF b ff

tf Parvest S-T Bef Plus B BF

tf Parvest Global B— LF

tf Parvest Int Band B J

d Porvest OWFLlra B Ut

tf Porvest Int Equities B 4

0 Parvest UKB c

tf Porvest USD Phn B s

d Parvest S-T CHF B SF

d Parvest OblUCanado u — _C5

a Parvesl OtHl-DKK B DKK

PERMAL GROUP

f DraXkar Growth N.V.— 4 280262

/ Emerging Mkts Hldgs— 8 91671

1 EuroMir (Ecu) Ltd — Ecu 1467*5

t FX. Ftnondato & Futures _j 96884

t investment Hldgs N.V _S 1J1061

I Media 4Common*CTihons_s 1006*7

I Nosed Ltd I 189*78

PICTET A CIE • GROUP

tf Amerasec ... I 5*01

wPX-F UK vm (Lux) C 6688

w FXJF Germaval (Lrnl JDM 96*3

w P.CF Noramval (Luxl I 2932

ivPdF Vollber (Lux) Plus 892480

w PC.F VaUtolla (Lux) LX 11173680

u P.CF VaB ranee (Lux)„ FF 122057
w P.U.F. Valband SFR <U>I5F 28137
wP.U-F. Vatoond USD (Luxl-S 231 J9

w PAI.F. VatoOfM Ecu 1 Lux) -Ecu 17733

wP.U.F.ValbondFRF(Luxl.FF 92*8*

0 P.U.F. Valband GBP I Luxl_i 9339

iv P.U^. Valbond DEM (Lux! DM 281 32

W P.U.F. USS Bd Ptfl (Lux) S 100590

« PA). F. Mode) Fd Ecu 11852

IV P.U.F. PkJHe — SF 48086

w P.U.T. Emera Mkts (Lirxi_5 21*52

■v PJJ.T. Eur. Oscar! (Lux) Ecu 14937

D PJJ.T. Global value (Lux) _Eeu 14865

w P.U.T. Eunnal (LuxJ Era 2236*

0 Pictet Vatsulsse (CHI SF 64960

mint! Small CnpllOMl 5 50*70

PREMIER INVESTMENT FUNDS LTD
c/o P.O. Bax HDD. Gnxid Cnvman
Fax: (809) KMWI

rn Premier US Equity Fund — S 1234* 1

m Frontier inti Ea Fund 4 120*70

m Prouder Sovereign Bd Fd— 4 79366

m Premier Gtobal BdFd—S 144734

m Premier Trial Return Fd— S 77977

PRIVATE ASSET MGT GAM FUND INC
Guernsey ;Tel:10044 431) 7ZJ432 Fax: 723488
IV Private Asset M8t GAM Fd 3 10064

PUTNAM

d EmeromoHtth Sc. Trust S 3680

wt Putnan Em. Into. Sc Trust! 38.77

0 Putnam Gloa. High Grawtn 5 1753

0 Putnam HlenincGNMAFds BJ0

0 Putnam Inn Fund— — S 15.70

QUANTUM GROUP OF FUNDS

IT Aslan Deve moment 4 10265

w Emerging Growth Fd N.V.-S IB7J4

vr Quantum Fund N.V 4 in

w Quantum lnaustrial ... ..5

MrOxmtifm Realty Trust S

w Quantum Realty Fund_s

■vQiKBcr inn Fund N.V S

iv Quota Fund N.V i

REGENT FUND MANAGEMENT LTD

nr New Kama Grown Fc 5

wNOvB Lot Pacific invCo — s

n> Pacific Arbitrage Co S

m RJL Country Wmt Fd —t

0 Peoem Gbi Am Gnn Fa i

ft Regent Gtot EuraGrtDFd-8

0 Regent GW mtiGrtnfd s

d Regent GUDJop Grth Fd — a

0 Regent Glol Pod! Basin 4

0 Regent Gtc I Reserve S

0 Regent GIM R sources 5

0 Regent Glbl Tiger 5

tf Regent gisi UK Gnn Fd s

iv Regent Moatiul Fd Ltd — *

m Regent Pac me Hda Fd s 13

iv Regent Sri Lanka Fa 4

iv Undervalued Assets Ser i _s

REPUBLIC FUNDS

w Republic GAM America — i H5J*

w Rep GAM Em Mias Global .4 15LF7

■* Rep GAM Em Mkts Lai AmS 12664

w Republic GAM Europe CHF SF 1138*
rv Republic GAME uroco U543 9651

iv Republic GAM Grwtti CHF^F 1C578

w Republic GAM Growth l £ 10078

iv Republic GAM Growth U5S5 1*5.50

w ReouNIc GAM Omriiiinlty 4 11155

w Republic GAM Podilc s isi.xi

w Republic Gnsev Dal inc S 11U2

w Republic Gnn Eur Inc Dm 10.10

w Republic Lai Am Alloc— * 10133

w Republic Lat Am Argent 4 9672

w Republic LOt Am Brazil S 10B.W

w Republic Let Am Me*la 5 IDI.10

w Republic Lat Am VeneL 4 B452

w Rep Salomon Strotegles S 87*3

ROBECO GROUP

POB 9727000 AZ RolterConUJl 110 SJ4127*

a RG America Fund .Fl 1*0.10

tf RG Europe Fund Fl 13060

0 RG PocHIc Fund Fl 1*353

0 RG Dlvireme Fund Fl 5363

0 RG Money Plus F Fl Fl HS.73

More Robeca see Airistordam Sindu
ROTHSCHILD (GROUP EDMOND DE)
IN-HOUSE FUNDS

IT Aslan Council HrtdlnssFd-S 6368

» Dalwa LCF Rotmchlid BO_4 99932

wDalwa LCF Rafhsch Ea— 8 1042*2

tv Force Cash Tradition CHF.5F TB4S937

wLelcam 4 281IJS9

w Leveraged Coo Holdings— 5 6Q29

w Obit- voter 5 f 951.1 ;

■r Prl Qidtonge Swiss Fo SF 110964

b Prieauity Fd-Eurooc Ecu 117.721

b Prl equity Fd-Helveilo SF KN662

O Prtoaultr Fd-LOIkiAm 8 14*786

b Prl bond Fond Ecu Ecu 1 15852

b Prlbons Fund USD S 11I.9A1

b Prioand Fd HY Enter MkraA 118392

w Selective Invest SA S 347348

b Source S 1834119

w U5 Bond Plus S tW6*7

■ VnrliMliH F.hi 105769

ROTHSCHILD (GROUP EDMOND DE)
OTHER FUNDS

0 Asio/Jonun Emcrg. Growths 18.15811

tr Esprit Eur Farm !nv Tsf E cu 1372.15

w Euroc Stroieg Tnvcitm td —Ecu 1855*3
0 integral Futures—— — S 9*15*

0 Pacific Nles Fund S 9.73

iv Permed DrokkarGrtn NV_3 2SC3.42

t Setectum Horiian FF 81*5568

b victolre Arkme, —5 S£K05i

ROTHSCHILD AS5ET MGMT (Gl) LTD
mNemrod Leveraged Hkt — 8 Sum

SAFDIE GROUP/KEY ADVISORS LTD
m Kev DIveraHlea Inc Fd LtcLS 1155182
SANTANDER ItEW WORLD INV.

m Commander Fund S 101327

m E xDlurer Fund S 1 15.W3

SC FUNDAMENTAL VALUE BVI LTD
Tel 599 9 322000 Fax 599 9 322031

mNAV 4 123264

5KAND1NAVI5KA ENSKILDA BANKEN
S-E-BANKEN FUND

tf Eurnan l ne J 182

tf FlcrecnOstern Inc s i.M

a Global Inc S 184

tf Loknmedei Inc S 0.5*

d variden inc 4 1 Of

d Jooan inc„ ._.Y 92.7e

d Mllla Inc 4 0.98

tf Sverige Inc Sek mi*

tf Nordomenka inc 5 0.9S

tf Taknotoal I nc - * 1 04

tf Sverige Rcnieford Inc Sek 1059

SKANDIFONDS

0 Eauftv inn Acc i 17 67

d Eerily Infl Inc s l*oi

tf Equity Global S 158

tf Equity Nat. Resources 1 163

tf Equity Jaoan Y 10172

tf Eauity Nordic 4 167

d Eaultv U.K t 155

d Eaultv Canllnenlal Eurooe-S 1.77

d Eaultv Medlterroacsn— 4 P.«5

d Eaultv North America 4 If s

tf Equity Far Ecsl 4 53*

d infl Emerging Marled 4 154

tf Bond Infl ACC S 125C

tf Band Inti Inc S 744

tf Bond Europe ACC % 164

tf Bond Europe Inc S 1 01

tf Band Sweden Acc Sek 1*0*

tf Bond Sweden lnt—__ — Sek 1086

tf Bend DEM Acc DM 135

d Bond DEM lne DM 0.93

d Bond Dollar US Acc S 139

d Bond Dollar US Inc S 18$

tf Cure. US Dal tor — 4 158

d Cure. Swedish Kronor Sek 12L5J

50CIETE GENE RALE GROUP

0 Asia Fund— Y 553*580

tf BTWCat A 4 1*36

d BTW Col B 4 *233

SOGELUX FUND ISF)

wSFBondSAUiA 4 1*34

•v SF Bonds B Germany DM 3134

wSF Bonds C France ff 13553

WSF Bands ECLB — — £ 1174

wSF Bonds F Japan Y 2347

wSF Bonds G Europe — —Ecu 1732

wSF Bands H Work! Wide ~.~S IS 12

w SF Bonds. J Bclp-urn BF 799 00

wSF Ea K North Amerlcc — 4 1777

w SF Eq. L w.Eorone Ecu 1657

wSF Eq M PaollC Bosln Y I486

w SF Eq P Growth Countries i 1867

w SF Eq Q Gold Mines 4 S3

wSFEqR World Wide S 1631

w SF Snort Term S France FF 1736*50

wSF Short Terra T Eur Ecu 1657

SOD I TIC ASSET MANAGEMENT INC. _

w SAM Brazil 1 238.79

w SAM Diversified J 132JJ7

w S AM/McGarr Hedge S 120.79

, w SAM QapartunlN 4 \17S2

w SAM Oracle i 11559

i* SAM Slnategy S 115JH

m Alpha SAM S 120.13

ivGSAMComPOSlIe S 33735

SR GLOBAL BOND ACCUMULATOR INC.

melon A s uxuw

m Class B X 10080

, 5R GLOBAL BOND FUND INC.

mCtossA S 10080

m Class B S 10080

SR GLOBAL FUND LTD

mSR European S 10187

mSR Aslan A 10*®5

m SR Internal Icnal 4 1059*

SVENS KA KANDELSBANKEN SJL
1*6 Bd de la PetrusM. L-2330 Luxembourg

bSHB Bond Fund 1 5651

» Svenska Sel. FS Amer Sh— 8 1582

wSvenska SeL Fd Germany _4 11.17

wSvenska SeL Fd infl Bd Sh J 1271

w Svenska SeL Fd Inti Sh S (0.71

w Svenska Sel. Fa Jooan V 384

w Svenska Sel. Fg Mfit-Mkt —Sek 11738

w Svensko set. Ftf Nordic -SEK 18344

wSvens4aSel.FdPacHSh_l 8*3

iv Svmsko SeL Fd Swtd BdS-JSek 1381 Jo

SWISS BANK CORP.

d 5BC 100 inae* Fund SF

d SBC Equity Ptfl-Au5tralkX_A4

tf SBC Equity Pift-Concm; C4

d SBC Eaultv Ptfl- Europe Ecu

0 SBC Ea PHMfetnerlands—FI

tf SBC Gov't Bd B L 5

tf SBC Bond Ptfl-AuTlr 4 A — AS

tf 5BC Bond PtfLAustrSB AS

d SBC Bond Ptfl-Coni A C4

tf SBC Bona PtfKoaS B CS

tf 5BC Bond Prtl-OM A DM

tf SBC Bond PW-OM B DM

a SBC Bond Ptfl-Duteh G. A—Fi
tf SBC Bond PNI-DutCh G. B_FI

tf SBC Bond Ptfl-ECU A .ECU

tf SBC Band HlFEcuS Ecu

d SBC Bond PtfFFF A FF

d SBC Band Ptft-FF B FF

d SBC Bond PttFPtas A.‘B Ptos

d SBC Bond Fill-Sterling A — £
a SBC Bond Ptf i-sierllng B —I
0 SBC Bond Parttol)o-SF a__5F

tf SBC Bond Portfolto-SF B SF

tf SBC Bond Ptfi-USS A —5

tf SBC Bona PHI-U5S B 4

tf SBC Bond PtfFYen A Y

tf SBC Bond PtB-Yen B Y

d SBC MMF-AS AS

tf SBC MMF - BF R BF

tf SBC MMF - Coni. CS

d SBC DM Short- Term A J)M

tf SBC DM Short-Term B DM

d SBC MMF - Dillch G Fl ,. l Ua

tf SBC MMF - ECU ECU 383272

tf SBC MMF - Esc Esc 47256980

tf SBC MMF ■ FF — _FF 2565773

tf SBC MMF. Lit Ul 451730*00

tf SBC MMF - Pros PtO 37275380

tf SBC MMF -Schilling AS

d SBC MMF -Sterling i

d SBC MMF - SF SF

0 SBC MMF - US - Doflar 4

0 BCMMF-USS/ll 4

0 SBC MMF -Yen Y

0 BC GW-Ptfl SF Grm SF

0 SBC GIDI-Pftl Ecu Grth Ecu

0 SBC GIM-PTII USD Grth S

0 SBC Glbt-Pffl SF Yld A SF

tf SBC Glbl- Pifl SF Yld B SF

0 SBC Glbt-Pffl Ecu Yld A — Ecu

0 SBC UU-Ptfl ECU YIO B Ecu

d BC Glbl- Ptfl USD Yld A 4

0 BCGUX-Pttl USO YMB — 5

ft BCGOW-Ptfl SF inc A SF

ff BC GBW-Ptfl SF inc B— .SF

0 SBC Glbl- Ptfl Ecu Me A ECU

0 SBC GIN-PHI ECU inc B ECU

d BC GlbFPItl USD Inc A 4

d BC Glbl-Pff! USD Inc B _S
tf BC Glbl Ptfl-DM Growth _DM

tf BC Glbl Ptfl-OM Yld B DM

tf BC Glbl PtliOM me B DM

0 8C GIN-PTII EM Bol AJB-DM
d 5BC GIN-Pttl Ecu Bal A/B-Ecu
0 BC GIN-PHI SFR Sal A/B JF
0 SBC G8H-PIH USS Bill A/B J

tf SBC Emerging Markets 1

d SBC SmaHB Mid Cops Sw_sf

0 SBCDyn Fl00rOfF9S SF

d Amenoavalar S

d AngieValor L

0 AslaPorttalto 4

tf Convert Bond seieciton SF

tf D-Mark Bond Selection— DM

d Dollar Bond Selection s

tf Ecu Bond Selection Ecu

0 Florin Bond Selection — Fl

tf Crwi.-.Uoh, cr 176241

a Germantouaiw .DM S36JJ

ft GoldPorltolki 1 iiS.05

a iDeriavaior pta Jle 2(80

0 Italvolor— Lit 45574900

tf JBBOfiP Wllali 4 — — Y 2423LK

a Sterling Bona Seiec;ian—_< 11168

tf E.w. Foreign Bond 5eieeHon5F 10935

0 Swiss valor „SF 540.75

tf UnUeraa' Band Selection _sf 7375

0 Universal Fund 5F 112.73

0 Yen Bond Selection y ii’iiw

TEMPLETON GLOBAL STRATEGY SICAV
a Global Grovrtn ci a . . . . 5 1358

tf Global Growth Cl B. 5 1053

O DM Global Growtn DM U25

tf Smaller CompaniK Ct a 5 12*1

0 Smaller Companies Cl B S 1039

tf Pcn-tmericun Cl A 4 1841

1 Pan- Amer ton Cl C s wjs

tf European — 5F i:.io

0 Far E 3s( s 1 5.12

0 Emerging Market* a A J 1117

tf Emerging Market*. Cl B 5 109 s

0 Global Utilities— 4 198*

s G local convertible t ifl .39

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The conference,

! * r i •

, V u 3 i v

w-:

» ■ * k M *•

:* ,■ .. :
* m d it

V ■

rf 1 t- . e l

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OIL & MONEY

L o n don ■ October 17 & IS

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For further information
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Tel: (44 71) 836 4802
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Page 16

SPORTS

Selig Group Is Seeking to Break Baseball Players 3 Union

By Claire Smith

Hew Yah Times Service

VT EW YORK — When the major league
1^1 team owners declared the season all
but dead by flatly rejecting the players'
latest proposition, the common lament
was that the strike could not be resolved
because there was no common ground.

Well, if there wasn't common ground,
how come
there was a
three-letter
word — lax Point
— that could

be found in both the middle-ground con-
cept brought into play last week by Jerzy
McMorris and an adjunct concept offered
up by the union?

McMorris, the owner of the Colorado
Rockies and a seeker of sanity for a sport
gone mad, was talking about luxury taxes,
the sort that would equate high-priced
players with yachts, private jets and Ma-
seratis. In other words, if an owner wants
one and has the money to play with, he can
buy into that bracket but must pay for that
luxury by anteing up a percentage of what-
ever amount be has gone over the budget in
order to help smaller clubs compete.

The players, thinking that such a plan
would dissuade owners from signing free
agents or expanding payrolls in fair-mar-
ket fashion, said no. But they didn't ignore
the idea and came up with a flat tax con-
cept that, in theory, would help small mar-
kets mostly by taxing the payrolls and
revenues of the big markets by 1 .6 percent.

Then Bud Selig and Richard Ravitch,
the acting commissioner and the owners’
chief negotiator, took turns dumping on
that premise. They said the players' pro-
posal was beyond disappointing.

They suggested that it was also a whop-
ping $20 milli on short of the revenue shar-
ing that the owners had initially proposed
among themselves in January. Then those
two men, who head the decision-making
team for the owners, reverted to a familiar
refrain by saying that the players had
failed to address cost certainty and the
financial needs of the small markets.

But, I suggest to you, had a player stood
up at the moment that rhetoric came flying
across the table, pulled $20 million from
his pocket and dropped in on the table, it
still would not have been enough.

Why? Because the owners, revealing
their truest motives more so than at any

moment before that, did not even attempt
to find a way to get that shortfall covered
by the players.

The reaction, or lack thereof, did not
stun the players. They have suspected all
along that this battle is more about power
than money. It did surprise some owners,
though. In fact, it devastated some.

M 1 guess I was naive, but it wasn't until
the last few days chat I began to suspect
strongly that this really is a concerted
effort to break the union,’' one owner who
spoke on condition of anonymity stud Sat-
urday. “Lurking in the minds of the b rains
of baseball, Selig and Jerry Reinsdorf, this
seems to be a genuine effort, which has
attracted more than a handful of really hot
owners, to do this thing.**

Why? This particular owner, one of
many who don’t get to enter the inner
sanctum with the Great Lakes leadership,
has a theory about what happened and,
just as important, what didn't on Friday.

“When the union came back with an
offer which transferred about I or 2 per-
cent of the money, which was far less man
what we anticipated in our revenue shar-
ing, normally what you do in labor negoti-
ations is say, 'Well, that's not nearly good

enough, but we're willing to talk about the
idea that you've got here and see if we can
look for some other options or look at
some other numbers,"’ the owner said.
“But they didn’t do that.”

Therefore, he said: “I believe now that
there are a lot of owners who are saying, let
them stay out, we're going to see this
through, and all that baloney.

“How we got here, I don't know. Wheth-
er it was a long-term plan somebody had, I
don't know. But we ended up here not
knowing bow we got here, but it's a bad
situation. And Fm not at all pleased about
it. I just don’t think it’s bargaining in its
truest sense. I don't think there's an at-
tempt here to bargain.”

S ELIG SPENT a great deal of his time
at a news conference Friday telling the
news media not to look for owners such as
the one above because they don't exist.
They do, though, even if they do not out-
number the ones in control.

Consider this assessment, from a differ-
ent owner, in a different league.

“One of the scariest thing s is old hard-
line owners think they're smelling blood,”
he said. “It's bizarre. It’s been so long since
ownership stayed intact and stood up, this

is an unusual position for them to be in at
this stage of a strike. When you think
about it unraveling, there's a group think-
ingwe have them where we want t hem .”

The players know that. Yet. when they
think unraveling, they think of it in terms
of the dis mantlin g of major leagues as we
know it They now believe that the owners
are willing to fight into the spring of 1995
and beyond.

Still, the players aren’t thinking of
cracking. They’re thinking of new owners,
or so Brett Butler of the Dodgers indicated
when he talked of how the on-field talent
would prefer crying to play in a new league
rather than accept a salary cap.

Players have traditionally shown such
resolve. But it's a new bem tor the owners,
something clearly a majority have warmed
to. That has led to a sort of trench-warfare
mentality. Such wars can be won, of
course, as happened in Europe in World
War I. But how many years after that
bloody episode did all sides ask whether a
victory at such a cost was really a victory?

Baseball's antagonists, now thinking in
terms of blood-letting, of winning or dy-
ing, will have a victor emerge from thus
debacle one day, one month, one year. No

Season’s About
’Dead as Can Be’

Compiled by Our Stoff Fn*i ® «»***

Bud Selig, the major leagues’ acting
commissioner, went to the ‘Green -Bay
Packers’ football game on Sunday and
said he still had some other owners to
speak to Monday, but would make an
announcement about the baseball season
by Wednesday evening.

Still, he appeared only a series of
phone rails away from formally cancel-
ing the rest of the season and the 89-year
run of the World Series. The season, said
another baseball official, is “about as
dead as it can be.”

“You can’t fail but to be very pessimis-
tic, ” sa jfl the Baltimore Orioles’ owner,
Peter Angelos. “It seems that there are
efforts made from each side but the two
sides are hardly speaking about the same
things.” ftf IT. AP)

matter what the cost is, though, it will be
far too great if all that’s left to explore is
what impure motives led to the gutting of
the game. *

T Vi.'*'

Not Pretty, but Dallas Tops Oilers

The Associated Press

Barry Switzer has already
learned that in the National
Football League you take a vic-
tory any way you can get it.

“This was not a thing of
beauty, but 1 know a lot of
teams would be happy to take a
win like this,” said center Mark
Stepnoski after the Dallas Cow-
boys escaped with a 20-17 vic-
tory over the visiting Houston
Oilers on Sunday.

On a day the Oilers hounded
Emmitt Smith's every step, the
Cowboys made just enough big
plays to give Switzer a 2-0 start
and the honor of having more
victories in his rookie season
than either Tom Landry or Tim-
my Johnson. (Landry was 0-1 1-
1 and Johnson was 1-15).

“We did what we had to do”
Switzer said.

Subbing for Cody Carlson,
who was not activated after sep-
arating his left shoulder last
week, Houston quarterback
Bucky Richardson made his
first NFL start and kept the
Cowboys off guard although
they managed four sacks and
two interceptions.

Richardson completed 20 of
42 passes for 242 yards and
twice scrambled for first downs,
once on fourth-and-18 from the
Dallas 38 to position Houston
for Gary Brown’s 2-yard touch-
down run, his second score of
the game, with 4 minutes lefL

Troy Aikman was 14 of 25
for 228 yards, while Smith, who
had 171 yards last week in going
for his fourth straight NFL
rushing title, had 90 yards Sun-
day on 27 carries.

But the stacked Oilers' line
proved to be their downfall
when Aikman bit Alvin Harper
for a 53-yard touchdown pass
in the third period for a 20-10
lead. Harper was under single
coverage.

“A moral victory is for teams
like SMU,” said Houston line-

backer Micheal Barrow. ^There
is no moral victory in the
NFL.”

Chargers 27, Bengals 10:
Mark Seay caught eight passes
for 119 yards and two touch-
downs as San Diego began its
season 2-0 for the first time
since 1981.

Stan Humphries threw for
299 yards and two touchdowns,
Natrone Means ran for 107
yards and a touchdown and San
Diego's defense forced three
turnovers deep in its own terri-
tory.

David Klingler was 21 of 34
for 180 yards with one touch-

m ROUNDUP

down, but committed two of the
winless Bengals' three turn-
overs.

Jets 25, Broncos 22: Nick
Lowery kicked a 39-yard field
goal nearly 4 minutes into over-
time after Boomer Esiason had
guided the Jets 45 yards with
file kickoff.

Rob Moore put New York
ahead, 22-19, with a 35-yard
TD reception and two-point
conversion pass with 4: 15 to go.

Esiason finished 26 of 37 for
297 yards with- two touch-
downs. John Elway was 29 of 42
for 319 yards and one Denver
score.

Seahawks38, Raiders 9: Ride
Mirer threw three touchdown
passes following Los Angeles
turnovers in a nine-minute span
of the second half.

The Raiders, considered one
of the AFCs Super Bowl con-
tenders entering the season, fell
to 0-2 and had their eight-game
winning streak against the Sea-
hawks snapped. Seattle is 2-0
for the first time in six years.

Redskins 38, Saints 24: John
Friesz threw a career-high four
touchdown passes, going 15 of
22 for 195 yards without an
interception in New Orleans.

Brian Mitchell, who set up a
touchdown with an 86-yard
kickoff return, scored on a 74-
yard punt return that gave
Washington a 21-3 lead.

Giants 20, Cardinals 17: Dave
Brown threw two 1-yard scor-
ing passes to Howard Cross in
the first half, and Michael
Brooks and Keith Hamilton
sacked Jim McMahon on con-
secutive plays late in the fourth
quarter to preserve the victory
for New York.

Min earlier games, reported
in some Monday editions:

Chiefs 24, 4<feis 17: Joe Mon-
tana, beating the team that
traded him after he won four
Super Bowl titles, threw two
touchdown passes in Kansas
City as be outplayed Ste-'e
Young, who took Montana's
job in San Francisco.

Montana completed 19 of 31
passes for 203 yards. Young
was 24 of 34 for 2 88 yards and a
touchdown, but was sacked
four times, threw two intercep-
tions and fumbled once. Anoth-
er fumble, by San Francisco's
John Taylor with 2:23 left, end-
ed the 49ers’ last chance.

Bills 38, Patriots 35: Steve
Christie saved Buffalo with a
32-yard field goal with 52 sec-
onds left after his team blew a
14-point halftime lead.

Jim Kelly, who threw for four
touchdowns in the first half,
had two interceptions in the
fourth quarter. Both led to New
England, touchdowns, tying the
score at 35-35 with 4:22 left.

Drew Bledsoe threw for three
TDs and 380 yards, and the
Patriots scored 35 points for the
second straight week but still
fell to 0-2.

Vikings 10, Lions 3: Warren
Moon, in his first home game
since Minnesota acquired him
from Houston in the offseason,
completed 22 of 35 passes for
221 yards and a touchdown.
Scott Mitchell whom the Vi-

kings had tried to sign, was IS
of 40 for 212 yards and was
sacked six times for Detroit,
and Barry Sanders rushed 12
times for 16 yards, his lowest
total since 1990.

Buccaneers 24, Colts 10:
Craig Erickson threw for 313
yards, with scoring passes of 50
yards to Charles Wilson and 48
yards to Jackie Harris, as host
Tampa Bay weathered another
big day by Marshall Faulk.

Faulk ran for 104 yards on 18
carries and caught seven passes
for 82 yards.

Falcons 31, Rams 13: Andre
Risen caught 12 passes for 123
yards and two touchdowns
while Jeff George, who threw
for three touchdowns, was 29 of
38 for 287 yards in Atlanta. The
Falcons’ old quarterback. Chris
Miller, threw three intercep-
tions, one a tipped pass that
Darnell Walker grabbed and re-
turned 44 yards for a touch-
down.

Dolphins 24, Packers 14:
Rookie Irving Spikes, a free
agent who made Miami's roster
after an exceptional exhibition-
season performance against
Green Bay, set up two first-half
touchdowns as he ran 13 times
for 70 yards before leaving early
in the fourth quarter with a
sprained right knee.

The Dolphin's Dan Marino
completed 17 of 25 passes for
177 yards and two TDs. Brett
Favre was 31 of 51 for 362
yards.

Seeders 17, Browns 10: Barry
Foster, who rushed for 84
yards, put visiting Pittsburgh
ahead to stay with a 1-yard
plunge late in the game and
Darren Perry, who made three
of the four interceptions of
Vinny Testaverde. stopped a
last-gasp drive for Cleveland
when he picked oEf Testaverde’s
pass at the Pittsburgh 10 with
54 seconds to play.

Mu Smr/Tbc Awadual Pns

Steve Young heard defensive end Ned Smith coming as tittle panned out for the 49ers In a 24-17 loss in Kansas Qty.

Frenchman WM Head New WLAF

The Associated Press

LONDON — A Frenchman has been named
president and chief executive officer of the re-
vamped World League of American Football.

Marc Lory, who has worked in international
marketing for more than 20 years, was named to
the WLAF post Monday. His appointment was
announced by NFL President Ned Austrian.

“The game has great entertainment value and
is a complement, not a replacement, for tradi-
tional European sports,” Lory said.

Lory, who received an MBA degree from the

University of Chicago in 1977, has work experi-
ence in advertising, promotion and sports spon-
sorship. From 1990-93, he rebuilt Vuamet Opti-
cal’s distribution system in the United States.

Lory is fluent in French, English. Spanish and
German.

The WLAF, which suspended operations after
two seasons of poor ratings in the United States,
is to be started up again next April with an all-
European format. The league will have six teams,
in London, Edinburgh, Barcelona, Amsterdam.
Dusseldorf and FrankfurL

i ntemortond

Recruitment

Every Thursday
Context
Philip Oma
Tel.: (331)

46 37 93 36
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DENNIS THE MENACE

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PEANUTS

CALVIN AND HOBBES

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Compiled by Our Staff Frvm Dapaiches

KUWAIT— The Olym-
pic Council of Asia, seeking
to head off China's threat-
ened boycott, announced
Monday that no politicians
would be invited to next
month’s Asian Games oth-
er than those from the host
country, Japan,

A brief OCA statement
announcing the decision
made no mention of indi-
vidual political figures, but
the move in effect canceled
an invitation the Kuwait-
based OCA the games’
sponsor, had extended to
Taiwan's president, Lee
Teng-hui.

China, which had threat-
ened to boycott Asia’s big-
gest sporting event if the
invitation to Lee was not
withdrawn, said it would
“respect” the ACA’s deci-
sion.

Chang Feng-shu, chair-
man of Taiwan’s Olympic
Committee, said his group
would go ahead with an ap-

S b'cation for Lee to enter
span.

Organizers in Japan is-
sued a statement saying
that “we will be relieved if
the OCA’s decision brings a
peaceful solution."

The OCA said it bad
made its decision with a
“sincere and most strong
desire to maintain the unity
and solidarity of the Olym-
pic and sports family in
Aria and in continuation of
efforts to ensure the success
of the Asian Games in Hi-
roshima.”

The 12th Asian Games
are scheduled to be held in
Hiroshima from Oct. 2 to
16. (Reuters, AJP, AFP)

Agassi Makes Short Work of Stich in Long March to Open Title

Seeour

Bushmc Menage Center

every Wednesday

By Robin Finn

New York Times Service

NEW YORK — With the
sunshine blazing off his three
wrings and Iris opponent in
abject surrender to his three- sei
manifesto, Andre Agassi, un-
seeded but far from unsung,
brought his remedial U.S. Open
run to a crashing crescendo by
trouncing Michael Stich, 6-1, 7-
6 (7-5), 7-5.

“I can’t believe it’s all over,”
Agassi, 24, said Sunday of what
he called a two-week “moment
of belief" where — having put
his game back together with a
combination of talent, disci-
pline, aggression and street
smarts supplied by his newest
coach. Brad Gilbert — he put
his ranking and reputation on
the line.

Agassi entered this Grand
Slam ranked 20th in the world
and conspicuously absent from
Grand Siam finales since his
1992 sleeper run at Wimbledon.

He left it with a No. 9 rank-
ing, and the distinction of be-
coming the first unseeded man
in the Open’s 1 14-year history
to dispose of five seeded play-
ers, en route to becoming the
first non-seed to win here since
Fred Stolle in 1966.

Agassi, the man so often crit-
icized for having more style
than substance, put on the most
calculated, concentrated and
mistake-free performance of his
life over the past two weeks.

“This one stands on its own
for me; winning it has its own
place to me," said Agassi, who
came this close once before but
failed in 1990 when 19-year-old
Pete Sampras creamed him in a
straight- set final to become the
youngest champion in Open
history.

“He played terrific tennis,”
said Stick, who had played ter-
rifically enough hims elf to reach
his first Slam final since he cap-
tured Wimbledon with his ver-
sion of a sleeper run in 1991.

“Throughout the whole two
weeks I was very happy for him
because it was probably some-
thing he dreamed of for a long,
long time, to get out of the shad-
ow of a couple of American
players, and be just deserved."
Agassfs efficient demolition

of the fourth-seeded Stich took
just 1 hour, 56 minutes.

It was littered with 10 double
faults and 48 unforced errors by
the German and hi ghli ghted by
Agassi’s stinginess from the ser-
vice line, where he allowed
Such just two break points and
saved them both. As for errors,
the player for whom focus, not
image, was everything, commit-
ted a minimal 14.

Always an emotive victor.
Agassi had to be rescued by the
loser after he prostrated himself
on the Stadium Court aud
seemed, after an unrelenting
display of hard core invulnera-
bility. in some danger of turn-
ing to jelly there.

First Stich walked around the
net and picked the kneeling
Agassi up from the prayerful
position which he had so rap-
turously assumed atop the De-
coturf the instant he realized his
backhand to the open court had
brought him his second career
Grand S lam.

Next Stich picked up Agassi's
detritus, the racquet he aban-
doned in order to rush to the
sidelines to embrace his sweet-
heart, Brooke Shields, who kept
herself busy for the rest of the
awards ceremony snapping
photographs.

Agassi danced off with the
first set in 24 minutes.

As usual, Agassi, who always
seems to win the pre-match coin
toss, elected to receive serve, the
better to get down to the imme-
diate business of using his most
trustworthy stroke, his tepspin
return, to put Stich off-balance.

The tactic worked with a ven-
geance, as Agassi briskly under-
mined Stich's best shot, his
serve, by breaking him at love.

Agassi, his groundstrokes
blazing from both sides and
Stich caught in the crossfire,
then sprinted off to a 4-0 lead.

Flummoxed and flustered by
Agassi's returns. Stich didn’t
hold serve until the 5th game,
and unfortunately for him. that

bit of progress set no precedent
for his next service game.

Instead of prolonging the set.
he relinquished it in a particu-
larly contentious game where,
on the first point, an overruling
against him by the chair um-

Rj> >lanM<rtTIV Biiilfn

Tim Clary *jener Fmm l'rcnr

There must have been a love bug in the air; loser Michael Stich and winner Andre Agassi embraced, then Agassi redid the scene with Brooke Shields.

pire, David Littlefield, pro-
voked him into pointing out,
rightly, ihai Littlefield “must be
an American."

Meanwhile, Agassi was be-
having with the giddy aplomb
of a kid who'd just mastered the
art of riding his two- wheeler.

Whenever he nailed an im-

probable shot, as he did in the
volley exchange that earned
him a set point, he raised his
arms and darted a “Look Ma,
no hands,” glance into the
packed stands, which indeed
happened to contain his moth-
er, Elizabeth, and father, Mike.

Stich was so offended by

Agassi's ecstatic body language,
not to mention wary of his snip-
er-like returns, that he prompt-
ly doublefaulted to lose the set.

The next set wasn’t as lopsid-
ed, but it ended the same way,
in Agassi’s favor after he took
control of the tiebreaker with a
dive-bombing backhand return

1 SCOREBOARD

* 24-1 ' io-, in hxna. WFL Standings

fofcn-gficnfii

Recruitment

AMERICAN CONFERENCE
E«l

W L T Ft* PF FA

2 D 0 MM A3 «

2 0 0 1000 41 25

1 1 0 000 41 SS

1 1 0 000 55 45

0 2 0 000 70 77

Central

W L T Pts PFPA

1 1 0 -500 38 37

1 1 0 000 2ft 34

0 2 0 000 30 55

0 2 0 000 38 AS

West

W L T Pts PF PA

2 0 0 1000 54 34

2 0 0 1000 44 44

2 0 0 1000 44 14

0 2 0 000 54 A2

0 2 0 000 23 82

NATIONAL CONFERENCE

W L T

2 0 0

2 0 0

1 1 0

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Kansas City
SanDfeso
Seattle
Owner

Minne s ota 10. Detroit 3
Tampa Bay 24, Indianapolis 10
Atlanta 31# L. A. Rams 13
Miami 24. Green Bov 14
PMtNwrgh 17# Cleveland 10
Kansas City 24, Son Francisco 17
San Dteso 27. Cincinnati 10
N. Y. Jets 25, Denver 22. OT
Doitas 20. Houston 17
Seattle 38, L A. Rotters 9
W m lri nu Ton 38. New Orleans 24
N. Y. Giants 2a Arizona T7

CFL Standings

Winnipeg

Baltimore

Toronto

Hamilton

Ottawa

Shreveport

Dallas
N.Y. Giants
Washington
Philadelphia
Arizona

Pts PF PA
1000 44 28
U00 48 40
000 45 52
000 33 28
000 29 34

PF PA PtS
347 334 12
203 247 12
274 M 8
230 294 ft
292 343 4
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393 238 17
404 187 14
297 227 14
290 Z7B 12
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Tampa Bay

Atlanta
LA Rams
San Frondsoo
New Orleans

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k.

Sunday's Games
Buffalo 38. New England 35

Eastern Division
W L T
4 4 0

4 4 0

4 6 0

3 7 0

3 7 0

0 10 0

Western Dhrtslaa
BriLCotomMa 8 1 1

Calgary 8 2 0

Edmonton 7 3 0

Saskatchewan 6 4 0

Sacra memo 4 5 1

LasVegas 4 6 0

Sundays Gaines
Saskatchewan 49# Winnipeg 18
British Columbia 28. Toronto 18

SPANI5H FIRST DIVISION
Real Sodedad l, Real Zaragoza 2
Ovfetia Z Compostela 2
Valladolid & Espanol 4
Beds Sevilla 4. Aibaaete 1
Valencia a Sevilla l

standings: EsnanoH points, Reol Madrid 4,
Deport h/o 4, Bctls 3, Zaragwa 3, Tenerife X
Valencia z Real Sodedad Z FC Barcelona X
Sporting Gllon Z Celia Vigo X Sevilla X Rac-
ing Santander 1# Oviedo!# Compostela 1. Ath-

letic Bilbao l.Laarones 1. AQiaceto 1, Vallado-
lid l. Attetlee Madrid a

ITALIAN FIRST DIVISION
Infer Mil ao a as Roma l

jw.: r — , •. ■ . r ■ T. -f ■

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Canadian Open

Final taadtas scores and earnings ai IM SlJ
mils aa Bdl Canodkm Open, staved oa the
7,1 17-yard, prv-72 Glen Abbey Galt Qib:
NICk Price, *234000 47-72-48-40-275

Mark Caloavecchla. SI4M00 *7-71-71-47—274
Tom Lehman, saM00 49-49-7849—277

Jay Don Bloke. *57.200 74-43-73*8—278

Mark Mccumber, *57.200 74-45*7-77-278

Brian Kamnv *43050 71-7I-O9-40-27?

Fulton Allem, *43050 *949-71-70—279

Stove Strieker, *43050 49-70-49-71—279

Marie O'Meara, *37.700 64-72-72-70-280

Bob Estes. S32J00 72-73-4848-281

FOOTBALL

National Football League
ARIZONA— Added Brian Kenosev, running
back, to the practice squad.

DALLAS— Signed Lincoln Coleman, run-
ning back. Id 2 -year co n tract
HOCKEY

Nattoool Hockey League
SAN JOSE— Assigned David Bruce, Lee
Leslie and If. Oufnfln. let! wings; Jon Co-
' lean, right wing; Gary Emmons and Mark
Terris, centers; Duane Joyce, Ken Ham-
mond, Glen Moors and Clmjdto Scremln, de-
fensemen; Trevor Robins, Dan Ryder and
Corwin Saurdl ft, goo I tenders, to Kansas Cily.
IHL. Assigned Vaclav Voroda, right wing, la
Tacoma. WHL and David Beauregard, left
wing, to SL Hyodirttie of the Quebec Motor
Junior Hockey League. Released Mike Doers,
center; John Joyce, right wing; and Trent
Elgner, Tv Eigner and Scott Zvgutskl. de-
fensemen.

Price Keeps
Winning in
Canada Open

New York Times Service

OAKVILLE, Ontario — It
was just another victory for
Nick Price. Another national
championship. Another con-
vincing step toward becoming
the most dominating golfer
since Tom Watson dethroned
Jack Nicklaus in the late '70s.

In what is becoming a famil-
iar refrain. Price, 37, won the
Bell Canadian on Open Sunday
for his seventh victory this year,
his fifth on the PGA Tour. The
only difference: he didn’t have
his game completely under con-
trol. and that might be the most
impressive thing about this, his
16th victory in his last 54 starts.

“1 hit a lot of bad shots, out
there, but my putter bailed me
out," said Price, who made it
around Glen Abbey Golf Cub
to a final-round 68 that gave
him a total of 13-under-par 275
and a one-stroke victory over
Mark Calcavecchia. who
chipped in for eagle at the final
hole for a 67.

But seconds before. Price bad
launched a 2-iron shot at the
16th hole from 217 yards away.
There was a target roughly five
yards wide on the green that
would make the difference be-
tween a legitimate eagle putt or
a 35-footer. Price’s shot rolled
on to the green and stopped 2 Vi
feet short of the hole.

“It’s very discouraging to
play against "that guy,” Calcavec-
chia said. “I told my wife, ’Why
does it have to be Nick Price
again? He's clearly the best
player in the world right now. so
I guess that’s why it’s him."cwQ

Said Price: “I know it can’t go
on forever. But I’m having a hell
of a time right now."

■04{#.v •

V »>

Fnmi tiunn/Thc Avncuinl Pie»

Even Nick Price, in Canada, was led to kiss his trophy.

that used Stich’s first sene for
momentum and buried itself at
the server’s feet to grant Agassi
a 4-2 edge.

Stich plastered a forehand
wide of the sidelines to give
Agassi the first of his three set
points, and be needed them all
when a netted backhand pass
and a forehand return into the
net gobbled up the first two.
But when Agassi sidled up to
the service line at 6-5, he jammed
in a first serve to Stich's back-
hand, and Stich obediently el-
bowed it into the net.

Given his 49-0 record in slam
matches where he’s taken a two-
set lead, Agassi had ample rea-
son to feel optimistic about
converting his fifth slam finale
to his second slam title.

Stich, who was hit in the
chest by a serve in his semifinal
outing against Karel Novacek.
was drilled again Sunday.

This time, he was the invol-
untary target of a backhand
pass from Agassi that struck
him in the right wrist during the
1 Ith game of the third set and
might as well have been a
knockout punch.

Agassi apologized, but his
sympathy didn’t last long. He
got himself a double break
point when he pounded a fore-
hand passing shot dead-on at
Stich, who tried to ward it off
with a forehand volley that
blooped sideways out of
bounds. Prompted by a short
ball from Sticn. Agassi then let
loose a crosscourt backhand
that Stich volleyed into the net
to fall behind, 5-6.

Given a chance to serve for
the match, Agassi barreled on
to double match point, convert-
ed it with a backhand half vol-
ley into a court left vacant by
the forlorn Stich. then dropped
to his knees and stayed there
until the loser retrieved him.

• Pete Sampras, “feeling a lot
better" after his Open defeat,
according to the U.S. team's
captain Tom Gullikson, will
play singles with Todd Martin
m the Davis Cup semifinal in
Goteberg. Sweden, Sept. 23-25.

An inexperienced team of Ja-
red Palmer and Jonathan Stark
will play doubles. Gullikson
said in announcing the team
Sunday night.

CROSSWORD

ACROSS

i First name in
Solidarity
s Festive

9 Philatelist's item

94 Jai

*5 Midaast guff
IsEunomia, Dike
and Irene

! I .
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t - m

-.ir

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Th-i,
U'

JAL

now flies non-stop
to Osaka from
London and Paris.

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l

tire

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L’

41 Singer Jim and
others

43 Novi Sad native

44 “Diary of-—
Housewife'

45 Parched

48 CNN newsman

52 Thou, today

53 Poet's almost

54 Frown

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M Terrify

57 Folk follower
ss Hazzard County
officer, on TV

55 Risk
BOBunenne
61 1169 erupter

DOWN

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3 "Peace Tram”
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6 Felipe's farewell

TMinus

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ie Type of salad

i« Uzbekistan's

Sea

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fa Hammer pan

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Your Eyes'

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Speaker

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commander
etal.

25 Crimson Tide
coach

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and Manat

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trio

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critter

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entrance, kddien/boih. sunny, mew.
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80> FAUBOURG ST HONORE Seep

eonal unique vww on Bytee Patoce.
Ownn & porfaaly redone: hving. tin-
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14th - ALMA beautiful 1930's buUng.
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Page 13
FOR MORE
EDUCATION
DIRECTORY

Page 18

INTERNATIONAL HERALD TRIBUNE* TUESDAY, SEPTEMBER 13, 1994

ART BUCHWALD

Guide to the OJ. Trial

Buchwald

W ASHINGTON — Ever
since I returned from va-
cation I have been trying to
catch up with my mail concern-
ing the O. J. Simpson trial It is
overwhelming, and the only
w ay I can handle it is to answer
the queries in my column.

Q. I plan to watch the Simp-
son trial on TV in its entirety.
What should I wear?

A* For men,
a blazer, dark
gray pants and
an Oxford
shin with a tie
in the USC
colors would
be apropos.

For women, a
simple Gi-
venchy cock-
tail dress with
pearls would
be suitable for the occasion.

Q, I work for the post office
and enjoy my job. At the same
time I am anxious to watch the'
O.J. drama. How many sick
days am I entitled to before
they dock my pay?

A. You can take up to 10 days
for watching the trial- Don’t
waste them on jury selection.
Wait until the prosecution calls
its first witness.

□

Q. My family intended to
watch the trial together, but my
brother-in-law and I differ on
what happened that night I
maintain the DNA results indi-
cate that the Bronco O. J. was
riding in was manufactured in
Mexico, and he says that it was
made in Hong Kong. Who is
correct?

A I’m not sure where the
vehicle came from, but the de-
fense now maintains that
another Bronco was parked be-
hind a grassy knoll with two
men in it, one of whom looked
like Fidel Castro.

Q. What will happen if U. S.
troops invade Haiti while the
trial is in progress?

A The trial will not be inter-
rupted by any of the networks
or CNN. But QVC, the shop-
ping channel, has been asked by
the administration to carry the
invasion live.

Q. What is the best type of
food to serve during the O. J.
trial?

A Guacamole with corn
chips is recommended for the
morning sessions. In the after-
noon during rebuttal you could
serve something more substan-
tial such as sausages in a blan-
ket or cheese dip and bagel
chips. If the trial continues into
.the evening hours, a menu of
beef Wellington and fresh as-
paragus with a respectable red
wine is a winner. Most of the
people I have talked to are also
stocking up on a variety of
French pastries to serve for des-
sert, in case the defense calls
Simpson to the stand.

Q. I have read so much on
0. J. Simpson that I am not sure
I can give him a fair trial
Should I still watch it on TV?

A Only if you can keep an
open mind. The trial will intro-
mice evidence that you have not
read before in the supermarket
tabloids. The defense lawyers
have many surprises up their
sleeves. Your job as a Tv viewer
is to weigh all the evidence and
then decide if there is proof,
beyond a reasonable doubt,
that O.J. is guilty. You must
not allow your love for the Buf-
falo Bills and your Hertz credit
card to interfere in your deci-
sion.

Q. Every time the O. J. Simp-
son news goes on the air, my
wife starts talking so I never
hear what the announcer is say-
ing. She comes up with stuff like
“If O. J. is guilty he should get
the death penalty.” This doesn’t
bother me. Where she and I
part company is when she says
“ALL men should get the death
penalty.” What should be my
response to that?

A Tell her that she has a
good point. If you agree with
her, she’ll stop talking while
you’re watching TV.

Q. What was in the sealed
envelope that the defense peo-
ple handed the judge?

A A million dollars that Ed
McMahon delivered to O.J.’s
lawyers for a week's work.

*

Blanche to Miss Daisy: The Peerless Jessica Tandy

By Richard L. Coe

Washington Port Soviet

W ASHINGTON — Jessica Tandy was too
decent, gentle, kindly, understanding,
sporty, gifted and superb an actress ever to
have complained about it, but I'd like to take
this occasion to do so.

For the film version of “A Streetcar Named
Desire,” her stage creation, Blanche Dubois,
was given to Vivien Leigh. Lady Olivier, as she
then still was, was splendid and rightly won an
Oscar for it (1951). But for all who saw the
Tandy Blanche at New York’s Ethel Barry-
more Theater in 1947 and for two years there-
after, Tandy was peerless. Not until 40 years
later, when she was 80, did an Oscar come her
way, for “Driving Miss Daisy.” Tandy died
Sunday in Connecticut at age 85.

By wild chance Tandy’s initial take on
Blanche had been in Los Angeles two years
earlier when a small set of New York’s Group
Theater emigres had linked up in a Hollywood
performing group they called “the Lab.”

To this informal institution came a short
play by the author of “The Glass Menagerie,”
Tennessee Williams, called “Portrait of a Ma-
donna.” The actor-director Hume Cronyn
was asked to stage it, and for the title part he
chose his wife of three years, Jessica Tandy.

Hollywood’s major figures were dazzled by
Tandy's performance of a lonely spinster be-
deviled by sexual fantasies. The part grew into
Blanche and, though Williams had hoped for

E

Lillian Gish, she was otherwise occupied and
the director, Elia Kazan, chose Tandy for the
art, a story told in Cronyn’s memoir, “A
'errible Liar.”

They were a gloriously theatrical couple —
“lesser Lunts, as Cronyn cracked at one
time, referring to the older Alfred Ltmt and
Lynn Fontanne. Two years younger than his
English-bom wife, Cronyn was a Canadian
who made his early American stage appear-
ances with southwest Virginia’s Barter The-
ater.

I first saw Tandy on Washington’s National
Theatre stage in March 1942 opposite Paul
Muni in “Yesterday's Magic,” a drama about
a drunken actor. The young Tandy played
Muni’s club-footed daughter, and for years
thereafter I always expected the offstage
Tandy to limp.

What made her so remarkable an actress
was that you always believed her, whatever
the role. Her fragility as Blanche lives on in
still photos when Stanley (Marlon Brando)
picks her up to see the lines In the fading
woman's face under that bare kitchen light.
Yet she was anything but fragile as Gertrude
to George Gnzzard’s Hamlet, when they
opened the Tyrone Guthrie Theater in Minne-
apolis in 1963.

That was the summer I got to know the
offstage Cronyns when she doubled as house-

RcuEcn

t ac-
tress Oscar for “Driving Miss Daisy."’

wife-cook in the Minneapolis house they took
for their children. Christopher, Susan and
Tandy were all there, part of every perfor-
mance in the Guthrie’s rep and the several
cogs that made the hospitable house run with
seeming effortless ease. Imagine Blanche Du-
bois cooking a supper for 12 every midnight.

Their Washington adventures, including a
White House evening with the Johnsons, were
many.

I especially recall a little two-character play
they were trying out at Olney, in the Maryland
suburbs, under the direction of Jose Ferrer.
Jan de Hartog’s comedy-drama covered the
downs and ups of a marriage over a period of
40 years. He called it “The Fourposter” and it
would run from 1951 for four years in New
York and around the country.

Usually but not always, they acted together,
she Linda Loman to his Willy in “Death of a
Salesman,” in one-acts under the title “Triple
Nay,” “The Man in the Dog Suit,” and Roald
Dahl’s "The Honeys.”

At Connecticut’s American Shakespeare
Theater she went back to the Shakespeare of
her youth, to Brecht's “The Caucasian Chalk
Circle,” Chekhov’s Madame Ranevskaya and
Doktor Mathilde von Zahnd in Duirenmatt's
“The Physicists.”

Tandy and Marlon Brando in the 1947 production of “A Streetcar Named Desire.”

The Cronyns’ exemplary marriage was the
second for them both, Tandy having first been
mar ried to the English actor Jack Hawkins,
with whom she had a daughter, Susan. After
several years of Cronyn’s courtship, they mar-
ried in 1942. They had two children, Christo-
pher and Tandy.

One of their ‘early enthusiasms was their
private island in the Bahamas, Children's Bay
Cay off the Exumas. While they enjoyed hay-
ing company there, Tandy did complain
about the housekeeping logistics: “Can you
imagine just the lists you have to make merely
for groceries?” she laughed.

The island prompted Cronyn to think of
getting his own plane — and piloting it him-
self. He asked advice from that experienced

marriage was the flier James Stewart, describing the sandy
spot’s short landing strip. Stewart sighed:
‘Tt’d be a dandy way to drown.”

I can hear Tandy laugh as she told that
story in the Stewart drawL For all her lissome
grace, her steely looks and her immense self-
control, I t hink what I'll always remember
most about this fine actress was her gloriously
free, unfettered laughter.

Which is why, I guess, she never seemed to
slain about not playing Blanche, as she
have done, on the screen. And she
knew that though Dana Ivey had played Miss
Daisy in the New York stage production, it
was Tandy who got to do her on film. And
thereby win that long-delayed Oscar.

WEATHER

Europe

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JoUmin

North America

The nation's mkl section from
Si. Louis to Now York will
have midsummer warmth
lata this week. A few heavy
thunderstorms will occur
along dm nonham and west-
ern periphery of the heat
from Denver 1o Kansas City
to Chicago. A tropical storm
may threaten the Gutf Coast
Friday.

Africa

Europe

Athens to Istanbul wfl have
dry. hot weather mis week.
Midaummar weather wtn
spread northward through
Kiev and Moscow as well.
Heavy rafts and Wider wfl
break out over northern and
central Italy. CoOl. damp
weather will prevail from
London and Paris through
Frankfurt and Hamburg.

Asia

Seoul and Bering wit have
dry. wanner weather Iota this
week. Tokyo will also be
warmer with partial sun-
shine. Scattered thunder-
storms will occur western
Japan tale this week. The
remnants of Tropical Storm
Luke wflt bring heow rains to
northern Vietnam Wednes-
day.

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Middle East

Latin America

Button

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PEOPLE

F ILMS from the Balkans and East Asia
shared the top award at the Venice
Film Festival on Monday. Mflcho Man-
chevskTs “Before the Rain" (Macedonia)
and Tsai Mmg-Liang’s “Aiqing wansui”

(Taiwan) jointly won the Golden Lion.

Peter Jackson of New Zealand won the
Silver Lion for “Heavenly Creatures.” and
the American Oliver Stone won the Special
Jury Prize for “Natural Bom Killers."

□

The director Steven Spielberg plans a
sequel to “Jurassic Park,” one of die big-
gest box-office successes of all time, to
open in June 1997. Forbes magazine made
the disclosure in an article accompanying
its list of the Top 40 best-paid entertainers, . . . _

which Spielberg led with estimated 1993- “ ““P* Awards. Theprogrwn w
94 gross earnings of $325 million. He ^ E*n™ys- NYPD Blue

$5 million, according to Sunday Times.
The paper said the proposal was being put
forward on her behalf by John Bryan, with
whom she was photographed in a compro-
mising pose in the south of France two
years ago, but the only serious offer he
could obtain was of $400,000 “for a series
of two or three mystery novels.”

□

Gardner BeBanger, publisher of French
V.
of

16 Nast in France.

□

bumped Oprah Winfrey from the top of
the list — she came in second with $105
million. Rounding out the top five were:
Barney, the purple oversized lizard on
public TV ($84 million); Pink Floyd ($62
million), and B31 Cosby ($60 million).

O

r~, „ sccniTynn/AgaKcFna*.?** TT* Duchess of York, the estranged wife

Candice Bergen, tire Emmy winner for of Prince Andrew, tried to sell two novels
best actress m a comedy series, “on a royal theme” to U. S. publishers for

Picket Fences” was voted the best U. S.
TV drama series at the 46th Annual Prime-

won a

_ won

the most Emmys — six — including the
one for best dramatic actor, Dennis Franz.
The new comedy “Frasier,” with the
“Cheers” veteran Kelsey Grammer repris-
ing his role as a weary psychiatrist, won
both best comedy series and best comic
actor for Grammer. Sela Ward of “Sisters”
won beat dramatic actress. And David Let-
tel man's CBS late-night variety show won
for best variety, music or comedy series in
its first year on the network.

iQucImh*.
m May
t Split

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COUNTRY

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COUNTRY

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ASIA

Italy*

172-1011

Brazil

000-8010

Australia

1-800-881-011

Liechtenstein"

155-00-11

rhtv

0041-0312

China, PKO*«

10811

Lithuania*

84.196

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980-11-0010

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018-872

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114

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000-117

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119

190

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001-801-10

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19/h-OOll

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165

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123

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0*010-480-0111

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95-800 -Hl2-i240

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800-0011

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05017-1-288

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105-11

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01-8004288 Panamaa

235-2872 Slovakia

155-5042 Peru*

109

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00-420-00101 Suriname

191

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0080-10288-0

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900*99-00-1 1 Uruguay

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00-0410

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0019-991-1111

155-00-11

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8*14111

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022-903-011

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0800-100-10

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00-1800-0010

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99-3M011

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00-420-00101

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8001-0010

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9800-100-10

France

19*-00U

Germany

01304)010

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00-800-1311

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OQa-800-01111

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1-800-5504)00

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1-*XWP2.’»II

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177-100-2727

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001-800-972-28H3

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800-2H8

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426-801

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001-500-872-2881

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1-H00-10

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00-800-12277

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510-0200

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